25th Oct 2022, 3:42 PM – Senate Committees - Economics References Committee; Reference - Savings vehicles

The majority voted against a motion introduced by Tasmanian Senator Wendy Askew (Liberal), which means it failed.

Motion text

That the following matter be referred to the Economics References Committee for inquiry and report by the last sitting day of 2023:

The fairness and efficiency of savings vehicles in Australia, with particular reference to:

(a) savings and wealth patterns of Australians across their working life and retirement;

(b) the relative attractiveness of savings vehicles, including differences in tax treatment and the appropriateness of other incentives;

(c) the relationship between the Age Pension, compulsory superannuation and voluntary savings to support retirement incomes;

(d) the role of home ownership in building wealth and supporting retirement incomes;

(e) the impact of macroeconomic conditions and associated policy responses on Australian's savings and wealth patterns;

(f) how Australia's policy settings to encourage saving and wealth creation compare internationally; and

(g) any other related matters.