(Australian Associated Press)

The federal government insists it has been vindicated over its past decision to delay increasing the superannuation guarantee as Labor toys with fast-tracking the trajectory.

In 2012 the Gillard Labor government moved to increase the superannuation guarantee from nine per cent incrementally to 12 per cent by 2019.

Assistant Treasurer Michael Sukkar doesn't think increasing the superannuation guarantee early would necessarily be a popular move because of tight household budgets and flat wages growth.

Asked if the government was seeking to delay the increase to 12 per cent again, Mr Sukkar responded: "with a very strong economy we're moving into an environment that maybe we can manage it."

Meanwhile, Labor is considering applying the superannuation guarantee to the government-funded parental leave scheme to help address an imbalance in women's retirement savings.

(Australian Associated Press)

Employers who don't pay superannuation could face up to 12 months in jail under new penalties being introduced by the government.

"It is fundamentally unacceptable for people not to be paid their superannuation entitlements," Financial Services Minister Kelly O'Dwyer told parliament on Wednesday, introducing new penalties the tax office can impose.

Colin Brinsden and Katina Curtis
(Australian Associated Press)

The Turnbull government has given up on passing corporate tax cuts this week, but will make a fresh attempt in the May Budget week.

Finance Minister Mathias Cormann told the Senate on Tuesday afternoon the government had been unable to convince nine crossbenchers to get behind the bill to reduce the corporate tax rate from 30 per cent to 25 per cent across all-sized businesses.

Independents Derryn Hinch and Tim Storer have yet to lend their support to the bill, leaving the coalition with only seven of the nine crossbench votes it needs.

"We believe there is opportunity for the government to persuade the majority of senators of the merits of our argument that is why the government is committed to keep working, to keep engaging," Senator Cormann said.

The minister, who has previously been successful in negotiating other key pieces of legislation, said the cuts were in the interests of working families because they would pay for jobs and higher wages.

Labor frontbencher Don Farrell told parliament it was an opportunity for crossbenchers to reflect on their decision to support the bill.

"That's not the way we create equality in this country. It won't trickle down to those people who really need a wage rise in the current environment," he said.

Earlier on Tuesday, Mr Shorten confirmed a Labor government would scrap the tax cuts for businesses with a turnover of more than $50 million.

However, Labor has yet to make a decision on what it will do about the already legislated cuts for small firms.

"Labor will consider its final position on that in the context of the information we receive in the budget," Mr Shorten told reporters.

"What we are not going to do is promise business corporate tax cuts which this government cannot pay for."

Prime Minister Malcolm Turnbull said the opposition wants to go to the election on a platform of "fewer jobs and less well-paid jobs".

"Their latest policy on company tax is no more well calibrated than their shocking cash grab on pensioners," he told parliament, referring to Labor's plan to end cash handouts for non-taxpaying shareholders on their dividend credits, which was subsequently amended on Tuesday to protect pensioners from the change.

One Nation senator Pauline Hanson reiterated her party's support for the tax cuts while predicting Labor wouldn't deliver on its promise to ditch them in government.

"It will be political suicide for them if they do," she told reporters in Canberra.

But shadow treasurer Chris Bowen said the reductions for firms above $50 million were neither "justifiable or affordable".

"These changes don't come in until 2019 and so it is appropriate that we are up-front about our plans and we're doing that today," Mr Bowen told ABC radio.

The latest Essential Research poll suggests voters have become ho-hum over the whole issue with 40 per cent backing the cuts, 30 per cent opposing and the remainder ticking 'don't know'.

Colin Brinsden, AAP Economics Correspondent
(Australian Associated Press)

Asia looks set to again lead the way in an expanding global economy in 2018, which will be good news for Australian exporters, a new report from Deloitte says.

Deloitte Access Economics lead partner Stephen Smith says people shouldn't become "mesmerised" by US President Donald Trump's tariffs on steel and aluminium.

Such growth is "music to the ears" of Asia's trade-driven economies.

Mr Smith said global financial conditions remain accommodative and capital flows in emerging and developing economies have returned.

However, he concedes a descent into a global trade war, sparked by President Trump's tariff threats, is still a small risk.

There is also a risk the financial imbalances building in China for some time could worsen.

"Importantly, however, our baseline scenario is for China to continue its impressive performance."

"Even though it's in its early stages, a number of infrastructure deals have already been signed under the initiative," he said.

(Your Loan Hub)

A small business loan can be invaluable when you're establishing your business or when an unforeseen setback occurs, but you don't want a loan to be short-term gain and long-term pain.

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Do you need to cover short-term cash flow shortages, for example? A line of credit could help, where you can access funds up to a pre-approved limit, and only pay interest on the outstanding balance.

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Mistake #4: Not paying attention to interest, fees and hidden expenses

Mistake #5: Not checking your credit record

Ask for a copy of your credit file from a reputable credit reporting body and go through it carefully to make sure all the information is accurate. If it's not, take steps to correct it before starting the loan application process.

Having the funds to run and grow your business is important, but make sure you take the time to shop around for a loan that won't create extra pressure in the long run.