Superannuation Legislation Amendment (Stronger Super) Bill 2012

Type: Government
Portfolio: Treasury
Originating house: House of Representatives
Status: Act
Parliament no: 43
Summary: Introduced with the Superannuation Supervisory Levy Imposition Amendment Bill 2012, the bill amends the:
Retirement Savings Accounts Act 1997
  and the
Superannuation Industry (Supervision) Act 1993
  to: establish a framework to implement the superannuation data and payment regulations and standards that will apply to specified superannuation transactions undertaken by superannuation entities, retirement savings account providers and employers; and make consequential amendments; the
Taxation Administration Act 1953
  to provide for an administrative penalty framework for non-compliance with the superannuation data and payment regulations and standards; and the
Australian Prudential Regulation Authority Act 1998
  to: enable costs associated with the SuperStream measures to be included in the minister’s determination specifying the amount of levy payable to the Commonwealth; enable the minister to make a determination that specifies the proportion of levy money paid to the Australian Prudential Regulation Authority (APRA) that is to be credited to the APRA Special Account; and insert a definition of the measures covered by SuperStream.

Progress

House of Representatives
24 May 2012	Introduced and read a first time
24 May 2012	Second reading moved
18 Jun 2012	Second reading debate
18 Jun 2012	Second reading agreed to
18 Jun 2012	Third reading agreed to

Senate
19 Jun 2012	Introduced and read a first time
19 Jun 2012	Second reading moved
25 Jun 2012	Second reading debate
26 Jun 2012	Second reading debate
26 Jun 2012	Second reading agreed to
26 Jun 2012	Third reading agreed to

26 Jun 2012	Text of bill as passed both Houses
28 Jun 2012	Assent Act no.: 91 Year: 2012

Documents and transcripts

Text of bill

First reading
As passed by both houses

Explanatory memoranda

Explanatory memorandum

Transcript of speeches

Proposed amendments

No documents at present

Schedules of amendments

No documents at present

Committee Information

No documents at present

Bills Digest

No documents at present

Notes

Referred to Committee (24/05/2012): Joint Committee on Corporations and Financial Services; Committee report (13/06/2012)

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Helpful information

Text of bill

First reading: Text of the bill as introduced into the Parliament
Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changed to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.

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