Stephen Jones 2022

The Albanese Government continues its crack down on unethical tax avoidance behaviour with a consultation paper released today to review the tax promoter penalty laws. This forms the next part of the government’s steadfast response to the PwC tax scandal.

GARY ADSHEAD:

Now it’s up to the government to try and stop the supermarkets from doing it. So, I’m very keen to find out how they’re going to do it. Stephen Jones is the Assistant Treasurer within the Albanese government and joins me on the line. Thanks very much for your time, Stephen.

STEPHEN JONES:

Gary, good to be with you.

MATTHEW PANTELIS:

Stephen Jones, Assistant Treasurer, on the line. Mister Jones, good morning.

STEPHEN JONES:

Matthew, good to be back with you.

PANTELIS:

How long before this comes into play?

JONES:

MARK GIBSON:

The Albanese Government is supporting small businesses to access credit when they need it.

Currently an exemption allows small businesses to access loans or credit without being assessed against the Responsible Lending Obligations (RLOs), so long as there is a genuine business purpose.

Australians will have greater access to free and simple tax advice thanks to the Albanese Labor Government, with the expansion of the National Tax Clinic program.

ADAM STEER:

Stephen Jones is the Assistant federal Treasurer and Minister for Financial Services. Minister, welcome to ABC Radio Darwin. These new laws, how are they going to work in terms of preventing scams? Because my understanding is you can’t force the banks to pay back anyone that’s been scammed, can you?

STEPHEN JONES:

Introduction

I would like to acknowledge the Wurundjeri people of the Kulin Nation as the traditional custodians of the land on which we gather today.

I pay my respects to their Elders past and present, and I acknowledge any First Nations Australians in attendance.

The Albanese Government will require super to be paid on payday, a reform that will benefit the retirement incomes of millions of Australians.

From 1 July 2026, employers will be required to pay their employees’ super at the same time as their salary and wages.

The Albanese Government is helping more Australians retire with dignity by taking further steps to improve the superannuation system.