Stephen Jones 2022

The Albanese Government is reforming financial advice rules so that more Australians can access the advice they need without the huge price tag. The Delivering Better Financial Outcomes package delivers on this commitment, ensuring Australians can access quality and affordable financial advice.

The Albanese Government is developing a fit for purpose digital asset regime to help build a more dynamic and competitive economy.

Today we have released a Statement on Developing an Innovative Australian Digital Asset Industry to provide clarity and certainty to the digital assets sector.

The Albanese Government is committed to ensuring the Tax Practitioners Board (TPB) has the expertise to effectively regulate tax practitioners and uphold professional and ethical standards.

The Government has made the following reappointments and appointments of part‑time members of the TPB:

The Albanese Labor Government is taking further action to help ensure tradies and subcontractors in the construction industry are paid on time and in full.

Our immediate actions are:

The Albanese Government will require super to be paid on payday to protect and grow the retirement incomes of millions of Australians.

The Government is releasing draft legislation to implement this reform which will ensure workers earn more, keep more of what they earn, and retire with more as well.

The Albanese Government will extend a crackdown on Unfair Trading Practices to small businesses after last year’s commitment to protect consumers.

We heard during consultation on protecting consumers from Unfair Trading Practices that it is important to also extend protections to small businesses, who face power imbalances when dealing with larger businesses.

The Government will amend the income tax laws to ensure legitimate investors can continue to access concessional withholding tax rates in Australia while strengthening guidelines to prevent misuse.

The Albanese Government’s targeted crackdown on scams has driven down annual reported scam losses by over $1 billion in the last two years.

The Albanese Government is uplifting the Consumer Data Right (CDR) by expanding the system to non‑bank lending providers to deliver a better deal for more Australians.