I've never heard such tosh and nonsense from those opposite. The member
for Goldstein thinks he's a member of the modern and moderate Liberal Party. Just that speech: railing against public or state education, claiming it controls children, and the idea that somehow superannuation—and I'll use the words he used about superannuation—is malicious, that there is denial and corruption, cartels and kickbacks, all associated with superannuation. So, when you take your superannuation at the end of your hard earning and working life and realise that it has been a Labor government that has helped you to gain your dignified and financially secure retirement, know that those opposite, in my 18 years of parliament, never once supported a superannuation guarantee increase. They delayed it again and again. The member calls superannuation 'neofeudalism'. What nonsense! It's absolute rubbish!

Those opposite would have more credibility in their view on the Treasury Laws Amendment (Payday
Superannuation) Bill 2025 if they had supported any of the housing reforms of the Labor government, such as
the $43 billion Homes for Australia plan. Those opposite spent nearly 10 years in government and did nothing
on housing—could barely find a housing minister to represent the portfolio. And when it came to the reforms
on housing that we initiated, they voted against them. So, they've got this false dichotomy between housing and superannuation.

We want homes for Australia. More than 4,000 people in my electorate have benefited from the home guarantee five per cent. Those opposite, the Liberal and National parties, opposed it. And 55,000 social and affordable houses being built under our programs: those opposite, the Liberal and National parties, opposed it, as well as the Help to Buy Scheme and the 45 per cent increase in rent assistance. Those opposite, the Liberal and National parties, opposed these things, again and again.

So, don't come in here and give us lectures on your newfound concern about the housing difficulties of this
country when you oppose it. This legislation that we're putting forward is about ensuring that superannuation
is paid.

The DEPUTY SPEAKER ( Mr Young ): The member for Moncrieff on a point of order?

Ms Bell: The member should direct his comments through you, Mr Chair, not directly across the chamber.
Mr NEUMANN: I'm directing them through the chair—of course I am—but I'm addressing the claims of those
opposite. That's exactly what they're doing. They claim, for example, that there's a trade-off between housing
and superannuation. They have failed to address this bill. Not once did the member for Goldstein address the
substance of this bill—not once in 15 minutes.

This is about making sure that superannuation is paid on time, with people's wages, so they can get their
superannuation when they get their salary. I think that's fair. I think if you walked down Riverlink Shopping
Centre in Ipswich and asked people shopping in Kmart, or in the food court, they'd say it was a good thing, the right thing to do. And this legislation is another proud Labor reform. It means more super for workers. Yet those opposite, the Liberal and National parties, oppose it—once again.

We've already implemented a number of reforms to strengthen the superannuation system over the term of
this government, including paying superannuation on government-funded paid parental leave and increasing the superannuation guarantee to 12 per cent. Only a Labor government has done that. Reaching 12 per cent was a signature policy, built on decades of reforms by Labor governments. Now we're pursuing additional reforms of superannuation.

By the way, once again we heard a speech from those opposite showing the divisions between the major political parties in this country. Superannuation is one. Universal health care is another. Public or state education is another, as well as people's rights at work. The subject of this bill is superannuation, and this is yet again a demonstration of why the public's vote matters when it comes to people's financial and economic security and dignity in retirement.

Payday superannuation is a once-in-a-generation reform that aims to tackle unpaid superannuation, creating a better system for workers and employers alike. We know that for too long too many workers have waited months to receive all their superannuation entitlement. It's been estimated that 3.3 million Australians missed out on $5.7 billion in super in 2022-23, losing on average $1,730 each year, based on analysis of the latest ATO data. It is simply not true to say that every employer pays superannuation when they should or on time. It is simply untrue, yet the member for Goldstein made that claim in the House of Representatives. It is simply untrue. And the workers of this country, young people in particular, know that's not true. There have been many parents listening to this debate who would know that their daughter or son has come to them and said, 'Mum or dad, I got paid my wages, but I didn't get paid super.' Not every employer does the right thing.

The member for Goldstein railed and said that we never support small business. I established a small business. I built a small business with the hard work, effort and cooperation of my employees, and my partners, shareholders and directors later on. I know what it's like to build a business. I know the challenges and the difficulties, but you've got to do the right thing. You pay your wages on time, and you should pay your superannuation on time. In my outer-suburban and regional seat of Blair, unpaid super costs 27,800 local workers. That's 31 per cent —nearly one in three—of the local workforce, and it cost them $1,770 each, on average, or a combined $49.1 million in 2022-23. So it's simply untrue to say that all employers pay their superannuation on time or do to right thing. Over six years, from 2017-18 to 2022-23, unpaid superannuation steadily grew around the country. In my electorate, it cost workers a total of $185.9 million in underpayments.

This reform will benefit thousands of workers in my community and boost the retirement incomes of millions
of Australians. It's a signature Labor legislation. It's about ensuring superannuation is delivered on time and
people can have secure and dignified retirement. It's part of our commitment to making sure people earn more, keep more of what they earn and retire with more. If you listened to those opposite, you would think they want people to retire with less. At the passage of this legislation, employers will be required to pay their employees' superannuation on payday, at the same time as their salary and wages, in line with every pay cycle rather than quarterly. This simple, practical change will mean more frequent contributions, earlier compounding returns and stronger retirement balances for millions of Australians.

The bill does three things. From 1 July 2026 it will require employers to ensure superannuation contributions
are received by the employee's fund within seven business days of payday, or they will be liable for the
superannuation guarantee charge. There are a number of types of superannuation, just as there are different types of toothpaste and cars. There are industry funds, retail funds, different fund managers and different names of superannuation schemes and policies in this country. But to label all fund managers as corrupt and part of a cartel, like the member for Goldstein did, is simply wrong. It is just erroneous to do that. This reform will strengthen Australia's superannuation scheme, make employees receive their superannuation contributions more often and help reduce unpaid super. Paying the superannuation contribution more frequently will mean that employees can track their entitlements more expeditiously and helps employers improve their payroll management. This change is part of a broader government initiative to boost retirement savings.

Secondly, the legislation will help the Australian Taxation Office enforce the law and more quickly identify
employers not making contributions. It therefore strengthens the scheme. It means as well that the ATO will
receive additional resourcing to help detect unpaid super payments earlier, and the government will set enhanced targets for the ATO for the recovery of those payments. As part of this, the ATO will draw on single-touch payroll data, which employers already report, and match it with data from super funds to detect missing payments in near-real time. Thirdly, the bill will update the superannuation guarantee charge, which is the penalty employers face when they fail to pay super on time. Under the new framework, the super guarantee charge will apply for each payday an employer fails to pay super in full and on time. This will allow the charge to better target employer behaviour and ensure employees are compensated for delays, including through notional earnings and penalties. These are simple, commonsense changes that will strengthen our system. Workers will receive what they are legally owed. Employees will benefit from earlier and more frequent contributions. Around nine million Australians will benefit from higher retirement savings from receiving their superannuation guarantee contributions earlier and more frequently. On average this will deliver an extra $7,700 per working Australian by retirement, because being paid super sooner helps to grow people's retirement eggs much faster, thanks to the benefit of compound interest.

Now, let's look at the example of a 25-year-old median-income earner, say a hospitality worker at the Orion
Springfield Central shopping centre in my electorate, currently receiving their superannuation quarterly and their wages fortnightly. With payday superannuation, the super fund will get it sooner, meaning higher earnings for the worker over their working life. It could see them being $6,000, or 1.5 per cent, better off at retirement, from the compounding benefits of super being paid more frequently.

The reality is that this issue disproportionately affects more vulnerable Australians, particularly women and
younger workers, who are most at risk of a power imbalance in the workplace and more likely to miss out on
their super when employers do the wrong thing. Among the hardest hit are women, who on average are already retiring with a quarter less super than men. Younger workers and low-income earners are also at risk, with one in two workers who earn under $25,000 a year having unpaid super entitlements and with almost half of all people reporting unpaid super to the ATO being under 35 years of age. That's the power imbalance that I talked about.

The changes in this bill will particularly benefit young people working in retail and hospitality and those in lowpaid, casual and insecure work, who are more likely to miss out when super is paid less frequently. It will help thousands of these workers in my electorate. When a worker misses out on their super altogether, it can have profound impacts, with losses continuing to compound, leaving them with tens of thousands of dollars less in their pocket at retirement. It means a less secure and less dignified retirement, financially.

For example, an average 35-year-old worker—say someone at Riverlink Shopping Centre, in my electorate,
working in hospitality or retail—with unpaid superannuation will be $30,000 poorer at retirement. When
employers go bust, the impact is even worse. For an average 35-year-old working in the private sector, a liquidated business could leave their retirement balance more than $90,000 worse off in today's dollar terms. The security of retirement is really important, but if the business you're working for goes into administration or liquidation, it's a big problem to claim your superannuation.

Importantly, payday super will boost transparency for workers, particularly young people, who typically assume that their super is being paid with their wages and that people are doing the right thing. It will be much easier and faster not only for the ATO to detect and fix underpayments but also for employers and employees in the workplace to keep track of what's going on. It means they'll be able to consult with one another further.

Treasury and the ATO will continue to consult closely with industry—and they have done so, by the way, contrary to what the previous speaker said. The ATO has advised that it intends to consult on its approach and compliance for 12 months after the changes start and will seek to differentiate between low- and high-risk employers.

This legislation is important. It will make the superannuation system fairer, from top to bottom. It will mean
a better deal and more superannuation for low-income workers, and I reckon that's a pretty good thing for the economy and for the people who work in my electorate.

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