Australia’s government has revived plans to add superannuation to paid parental leave payments and increase housing affordability through taxation reforms, The Australian reported, citing a draft policy document reviewed by it.
(Bloomberg) — Australia’s government has revived plans to add superannuation to paid parental leave payments and increase housing affordability through taxation reforms, The Australian reported, citing a draft policy document reviewed by it.
The document calls for superannuation to be added to the parental leave payments, which it suggests should be extended to 26 weeks from the current 20 weeks, according to the report. The draft platform also calls for taxation reform to improve housing availability.
The aim to provide superannuation payments during paid parental leave was in the 2021 pre-election platform of Australia’s ruling center-left Labor party. The draft was compiled by a group of Labor party members and members of parliament as well as unionists, known as the national policy forum. The final version will be debated at next month’s national conference.
In comparison, of the largest firms in the US, 9% offer at least 12 weeks off for all new parents, regardless of their gender and care-giving role. The vast majority of US workers do not receive any paid family leave at all.
Australia’s Minister of Social Services, Amanda Rishworth, said she would introduce legislation later this year to expand the Paid Parental Leave scheme to 26 weeks, which will commence from 1 July 2024.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.