WARNING:
This Digest was prepared for debate. It reflects the legislation as
introduced and does not canvass subsequent amendments.This Digest
does not have any official legal status. Other sources should be
consulted to determine the subsequent official status of the
Bill.
CONTENTS
Superannuation Contributions Surcharge (Application to the
Commonwealth-Reduction of Benefits) Bill 1997
Date Introduced: 13 February 1997
House: House of Representatives
Portfolio: Treasury
Commencement: Royal Assent
To allow a trustee of a Commonwealth unfunded defined benefits
superannuation scheme to reduce any benefits accruing to or for a
member of the scheme after 20 August 1996 by the amount of the
surcharge they are liable for.
The reader is referred to the Digest for the Superannuation
Contributions Surcharge (Assessment and Collection) Bill 1997.
Clause 4provides that where the liability of a
trustee of a Commonwealth unfunded defined benefits superannuation
scheme to pay the surcharge arose because of the operation of the
Superannuation Contributions Surcharge (Application to the
Commonwealth) Bill 1997 is discharged under that Bill (see clause 7
of that Bill), the trustee may reduce any benefits accruing to or
for the member after 20 August 1996 by the amount of the
surcharge.
Note: Clause 4 of the Bill is analogous to clause 34 of
the Superannuation Contributions Surcharge (Assessment and
Collection) Bill 1997. It may be noted that the validity of clause
34 has been questioned in submissions to the Senate Select
Committee on Superannuation examining the package of legislation
which this Bill forms part of.
Chris Field
Ian Ireland
3 April 1997
Bills Digest Service
Information and Research Services
This Digest does not have any official legal status. Other
sources should be consulted to determine whether the Bill has been
enacted and, if so, whether the subsequent Act reflects further
amendments.
IRS staff are availableto discuss the paper's contents
with Senators and Members andtheir staff but not with members of
the public.
ISSN 1323-9031
© Commonwealth of Australia 1996
Except to the extent of the uses permitted under the
Copyright Act 1968, no part of this publication may be
reproduced or transmitted in any form or by any means, including
information storage and retrieval systems, without the prior
written consent of the Parliamentary Library, other than by Members
of the Australian Parliament in the course of their official
duties.
Published by the Department of the Parliamentary Library,
1997.
This page was prepared by the Parliamentary Library,
Commonwealth of Australia
Last updated: 10 April 1997
Back to top