The House Standing Committee on Agriculture and Water Resources launched a new inquiry into the barriers to increased investment in Australia’s agriculture sector by superannuation funds, and called for submissions.
According to the Committee’s Chair, Rick Wilson MP, the Australian agricultural sector is in danger of being left behind because of a lack of investment:
“The agricultural sector in Australia needs much more investment if it wants to remain competitive, and the superannuation industry is an obvious source of that. With this inquiry, the Committee hopes to find out how investment can be encouraged”.
The Committee will be inquiring into and reporting on whether:
- there are any regulatory requirements imposed on superannuation funds by ASIC, APRA and any other relevant regulators, which are acting as a barrier to superannuation fund investment in Australian agriculture;
- the information required by the superannuation funds in order to invest in Australian agriculture is readily available, and if not, what statistical performance reporting of the agricultural sector is necessary; and
- there are any other practical barriers to superannuation fund investment in Australian agriculture.
The Committee will be accepting submissions until Friday 22 June 2018.
Source: Australian Government