As Treasurer, Mr Frydenberg will be responsible for taxation and superannuation policy, and the development of budget, economic and fiscal policy, while Assistant Treasurer Stuart Robert will assume responsibility for financial services.
Mr Frydenberg will have primary oversight of the Australian Securities and Investment Commission (ASIC), the Australian Prudential Regulation Authority (APRA) and the Australian Competition and Consumer Commission (ACCC).
He will also be responsible for responding to the banking royal commission, major foreign investment decisions and international engagement through the G20 and APEC meetings of finance ministers, International Monetary Fund and the World Bank.
Alongside his role for financial services, Mr Robert will also look after the day-to-day management of superannuation, competition and consumer policy, the Australian Bureau of Statistics, fintech, crowd-sourced equity funding and assisting across the portfolio on matters including taxation legislation and administration.
Assistant to the Minister for Treasury and Finance Senator Zed Seselja will have responsibility for the not-for-profit and mutuals sector including the Australian Charities and Not-for-profits Commission (ACNC), Royal Australian Mint, assisting the Treasurer with some aspects of foreign investment and working with the Treasurer on housing policy as well as assisting with matters across the portfolio.
Jotham Lian is the news editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.
Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.