Fiona Reynolds: I’m not worried about the gradualism – that was in line with policy anyway. But how serious do you think that the Opposition are about not supporting any SG increase?

Minister Bowen: I think they’re deadly serious. Tony Abbott has an ideological objection to superannuation. He says all tax concessions for superannuation should be abolished. So I think they will oppose it down to the last vote in the Parliament, and they will run a campaign in the small business community to oppose it, and they will make it one of their key planks. I think it is deadly serious.

Tony Cole: What about the cross benches? Minister Bowen: Well, there’s a long way to go with them, and obviously it depends on whether it gets put before the parliament before or after the election as to which cross benches are there. I think the Greens have traditionally been supportive of superannuation, and it depends which of the others are there after the election.

Michael Bailey: Steve Fielding used to work for a super fund.

Minister Bowen: Yeah, although he has expressed some reservations. So I will be spending many hours in their offices. I always am when I try and get difficult legislation through.

Colin Tate: Minister, my understanding also is that you’ll be abolishing all forms of volume rebates and platform fees, shelf space fees and the like?

Minister Bowen: If they are linked to volume. So anything which incentivises the sale of a particular product. So in some instances – and there’ll need to be some consultation about the finer details of how we frame this in the legislation – but if there are flat payments which don’t in any way incentivise a product, then they would potentially pass the test. But if there is anything which in any way says it’s volume based on rebate et cetera, then that would not pass the test.

Colin Tate: So it’s for the individual or licensee? So such as, my understanding is Count Wealth Group, Barry Lambert’s outfit, who claim to be fee for service. The majority of the parents’ income comes from volume rebates from the white labelled BT wrap platform that they use. And if that was to be abolished, that business therefore, the licensee business, would be non-solvent.

Minister Bowen: Well, it applies across the supply chain, so at any stage if it encourages sales, it would not pass the test.