Thursday, 10 February 2011
I seek leave to amend general business notice of motion No. 167 standing in my name for today relating to DIY superannuation funds.
I move the motion as amended:
That the Senate—
- notes that:
- the Cooper Review into superannuation in 2010 recommended that private investment in art no longer be an eligible investment for do-it-yourself (DIY) superannuation schemes, and
- after a strong campaign by artists concerned that the local art market would be seriously damaged by this move, the Government promised during the 2010 election campaign to reject this recommendation; and
- calls on the Government to:
- abide by its election promise, and
- ensure that any conditions do not act as a disincentive for DIY superannuation schemes to invest in Australian art.
Question agreed to.