A Parliamentary committee is inquiring into barriers to superannuation funds investing in agriculture.
Last week the Treasurer asked the House of Representatives Standing Committee on Agriculture and Water Resources to inquire into the issue.
MP Rick Wilson, the Chair of the Committee, said Australian agriculture is in danger of being left behind due to 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,” he said.
The Terms of Reference for the inquiry are:
The Committee inquire into and report 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 is calling for submissions, with a closing date of Friday 22 June.