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• Financial Claims Scheme (ADIs) Levy Bill 2008

  Track (What's this?)

  Date

  15 Oct 2008 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Financial Claims Scheme (General Insurers) Levy Bill 2008 and Financial System Legislation Amendment (Financial Claims Scheme and Other Measures) Bill 2008, the bill provides for regulations to be made to impose a levy on authorised deposit-taking institutions in the event that liquidation funds are not sufficient to recover the Australian Prudential Regulation Authority’s costs of the Financial Claims Scheme. 

  Bill | Explanatory Memorandum

• Financial Claims Scheme (General Insurers) Levy Bill 2008

  Track (What's this?)

  Date

  15 Oct 2008 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Financial Claims Scheme (ADIs) Levy Bill 2008 and Financial System Legislation Amendment (Financial Claims Scheme and Other Measures) Bill 2008, the bill provides for regulations to be made to impose a levy on general insurers in the event that liquidation funds are not sufficient to recover the Australian Prudential Regulation Authority’s costs of the Financial Claims Scheme. 

  Bill | Explanatory Memorandum

• Financial System Legislation Amendment (Financial Claims Scheme and Other Measures) Bill 2008

  Track (What's this?)

  Date

  15 Oct 2008 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Financial Claims Scheme (ADIs) Levy Bill 2008 and Financial Claims Scheme (General Insurers) Levy Bill 2008, the bill amends the:

  Banking Act 1959

  to establish the Early Access Facility for Depositors (EAFD) to provide access to deposit funds in a failed authorised deposit-taking institution (ADI);

  Insurance Act 1973

  to establish the Policyholder Compensation Facility (PCF) to provide access to funds from insurance claims when a general insurer fails;

  Australian Prudential Regulation Authority Act 1998

  to provide the Australian Prudential Regulation Authority with administration of the Financial Claims Scheme (comprising the EAFD and PCF);

  Banking Act 1959

  to expand the duties, powers and functions of ADI statutory managers;

  Insurance Act 1973

  ,

  Corporations Act 2001

  and

  Life Insurance Act 1995

  to provide for judicial management and recapitalisation of general and life insurers; and

  Financial Sector (Business Transfer and Group Restructure) Act 1999

  to facilitate the transfer of assets and liabilities between institutions. Also makes consequential amendments to six Acts to provide for the usage of tax file numbers for the Scheme. 

  Bill | Explanatory Memorandum

• Interstate Road Transport Charge Amendment Bill (No. 2) 2008

  Track (What's this?)

  Date

  25 Sep 2008 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Infrastructure, Transport, Regional Development and Local Government 

  Summary

  Introduced with the Road Charges Legislation Repeal and Amendment Bill 2008, the bill amends the

  Interstate Road Transport Charge Act 1985

  to enable regulations to be made to implement national heavy vehicle charges set out in the 2007 Heavy Vehicle Charges Determination under the Federal Interstate Registration Scheme for registered vehicles. 

  Bill | Explanatory Memorandum

• Road Charges Legislation Repeal and Amendment Bill 2008

  Track (What's this?)

  Date

  25 Sep 2008 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Infrastructure, Transport, Regional Development and Local Government 

  Summary

  Introduced with the Interstate Road Transport Charge Amendment Bill (No. 2) 2008, the bill repeals the

  Road Transport Charges (Australian Capital Territory) Act 1993

  and repeals provisions of the

  Road Transport Reform (Heavy Vehicles Registration) Act 1997

  to allow the Australian Capital Territory Government to introduce the new heavy vehicle registration charges. Also amends the

  Fuel Tax Act 2006

  to: increase the road user charge rate to 21 cents per litre from 1 January 2009; and establish a mechanism to allow for regulations to be made to adjust the charge. 

  Bill | Explanatory Memorandum

• Superannuation (Departing Australia Superannuation Payments Tax) Amendment Bill 2008

  Track (What's this?)

  Date

  25 Sep 2008 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Temporary Residents’ Superannuation Legislation Amendment Bill 2008, the bill amends the

  Superannuation (Departing Australia Superannuation Payments Tax) Act 2007

  to increase the departing Australia superannuation payment withholding tax rates by five per cent. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (2008 Measures No. 5) Bill 2008

  Track (What's this?)

  Date

  25 Sep 2008 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  A New Tax System (Goods and Services Tax) Act 1999

  in relation to the margin scheme and the sale of real property;

  Income Tax Assessment Act 1997

  to modify the thin capitalisation regime in relation to the use of accounting standards for identifying and valuing an entity’s assets, liabilities and equity capital;

  Income Tax Assessment Act 1936

  to extend eligibility for exemption from interest withholding tax to certain bonds;

  Fringe Benefits Tax Assessment Act 1986

  in relation to income earning assets held jointly with a third party; and

  Income Tax Assessment Act 1936

  in relation to the eligible investment business rules for managed funds. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (Education Refund) Bill 2008

  Track (What's this?)

  Date

  25 Sep 2008 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Income Tax Assessment Act 1997

  to establish the Education Tax Refund, a 50 per cent refundable tax offset for eligible education expenses (up to $750 for primary school studies and up to $1,500 for secondary studies). Also makes consequential amendments to the

  A New Tax System (Family Assistance) (Administration) Act 1999

  ,

  Social Security (Administration) Act 1999

  ,

  Student Assistance Act 1973

  and

  Taxation Administration Act 1953

  . 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (Medicare Levy Surcharge Thresholds) Bill (No. 2) 2008

  Track (What's this?)

  Date

  25 Sep 2008 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999

  and

  Medicare Levy Act 1986

  to increase the Medicare levy surcharge threshold to $75,000 for individuals (with annual indexation) and to $150,000 for families (to be twice the individual rate in future years). Also provides for transitional arrangements so that individuals who obtain private health cover before 1 January 2009 avoid the surcharge for the period 1 July to 31 December 2008. 

  Bill | Explanatory Memorandum

• Temporary Residents' Superannuation Legislation Amendment Bill 2008

  Track (What's this?)

  Date

  25 Sep 2008 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Superannuation (Unclaimed Money and Lost Members) Act 1999

  ,

  Taxation Administration Act 1953

  and

  Income Tax Assessment Act 1997

  to: require that the superannuation of a temporary resident becomes unclaimed and payable to the Australian Taxation Office (ATO) once the individual has ceased to be a temporary visa holder, has departed Australia and has not claimed their superannuation within six months; and provide that departed temporary visa holders may recover their superannuation benefits, subject to withholding tax, from the ATO. 

  Bill | Explanatory Memorandum