Stephen Jones 2022

LINDA BURNEY, MINISTER FOR INDIGENOUS AUSTRALIANS:

Sorry Business is of the deepest cultural importance to First Nations people.

It is vital that traditional mourning practises be allowed to continue despite the collapse of the Youpla Group funeral contribution funds earlier this year.

The Albanese Government is introducing legislation to ensure that no veteran pays higher income tax because of the Federal Court decision in Commissioner of Taxation v Douglas (the Douglas decision).

The Albanese Labor Government is delivering on its election commitment to increase foreign investment fees and penalties.

From Friday 29 July, foreign investment application fees will double. This will generate an additional $455 million in Budget revenue over the forward estimates.

The Australian Government welcomes the settlement reached between the Australian Tax Office and Rio Tinto, which will pay approximately $1 billion in one of the largest tax settlements in Australia’s tax history.

Today, the Government has released for consultation, draft regulations outlining proposed technical changes to the disclosure requirements for superannuation Annual Members’ Meeting (AMM) notices.

AMMs provide members with the opportunity to directly engage with and question the trustees of their superannuation fund, holding them to account for the fund’s performance and operations.

Introduction

Good morning.

I would like to begin by acknowledging the Gadigal people of the Eora Nation, the traditional custodians of this land, and pay my respects to the Elders past, present and emerging.

It is a pleasure to join you here at the 6th annual Responsible Lending and Borrowing Summit.

The Albanese Government will always look for ways to strengthen Australia’s world‑class superannuation system and maximise returns to Australia’s superannuation fund members.

That’s why we have tasked Treasury to review the operation of the Your Future, Your Super laws (YFYS laws) after the second round of MySuper performance tests have taken place by August this year.

Today the Albanese Government is releasing the modelling used to design the previous government’s Northern Australia Cyclone Reinsurance Pool.

Labor sought the release of the modelling at the time parliament was considering the legislation.

The then government refused. We now know why.