Statutes Amendment (Superannuation) Bill

Second Reading

Adjourned debate on second reading.

(Continued from 3 June 2015.)

Mr GRIFFITHS (Goyder) (15:57): I confirm that I will be the lead speaker for the opposition on this bill, which should not take all that long, Treasurer, to go through. I am aware that this piece of legislation has been driven by the association representing police officers and there has been some considerable negotiation about it. It is based around superannuation benefits that will at the time of retirement be available to police officers, and with the taxation liability that comes into place at the time of a payment being made, efforts are being made now, while they are contributing to the scheme, to ensure that that tax liability is minimised and there is no disadvantage to the members. As I understand it, is a cost that is being borne by the police officers themselves and not taxpayers, but the changes are important and it is appropriate that, in support of our very much hardworking police officers, both sides of the parliament support it.

The Hon. Rob Lucas, shadow treasurer, has primary carriage of the legislation. He has certainly put on the record in the other place the support of the Liberal Party. It is not my intention to hold up the house but just to confirm our support for it, and the fact that we look forward to its swift passage so that it becomes an act which ensures that benefits are available to our police officers so that their future tax liability can be minimised; and that it has been paid for up-front, and compensation then, instead of it occurring at the end where it might actually cost them some benefits. With those very few brief words, I look forward to the swift passage of the bill.

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy, Minister for Small Business) (15:59): I thank the member for his support and that of the Liberal Party and I hope that this legislation passes swiftly to give those officers who do so much to keep us safe the very best advantage possible.

Bill read a second time.

Third Reading

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy, Minister for Small Business) (16:00): I move:

That this bill be now read a third time.

Bill read a third time and passed.