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) Bill 1997
Date Introduced: 13 February 1997
House: House of Representatives
Portfolio: Treasury
Commencement: Royal Assent
To provide for the application of the superannuation
contributions surcharge (the surcharge) on contributions of members
of non-contributory Commonwealth superannuation schemes.
The reader is referred to the Digest for the Superannuation
Contributions Surcharge (Assessment and Collection) Bill 1997.
The provisions of this Bill provide for the application of the
surcharge on contributions of members of non-contributory
Commonwealth superannuation schemes.
Clause 4 provides that the provisions of this
Bill will apply:
- where a trustee of an unfunded defined benefits superannuation
scheme is a Commonwealth officer, authority or agent (Note: The
term 'unfunded defined benefits superannuation scheme' is defined
in the Superannuation Contribution Surcharge (Assessment and
Collection) Bill 1997 to mean a scheme where some or all
contributions are not made until the member becomes entitled to
receive them); and
- if the trustee is not a Commonwealth officer, authority or
agent they would be liable to pay the surcharge on superannuation
contributions for a financial year for a member of the scheme;
and
- there are no superannuation contributions payable to the
trustee for or by the member under the scheme.
Where a trustee falls within the above circumstances they will
be taken not to be an officer, authority or agent of the
Commonwealth in their capacity as trustee of the particular
superannuation scheme (clause 5).
Clause 6 provides the Minister for Finance with
power to issue directions to a trustee for the discharge of their
liability to pay the surcharge. In particular, the Minister for
Finance may give directions about the transfer of money within the
Public Account (Note: All monies received by the Commonwealth must
be kept in the Commonwealth Public Account. This 'bank account' of
the Commonwealth consists of three main funds, the Consolidated
Revenue Fund, the Trust Fund (which contains a large number of
individual trust accounts) and the Loan Fund. Directions of the
Minister for Finance under clause 6 are not
subject to disallowance by Parliament.
Compliance with a direction of the Minister for Finance under
clause 6 discharges the trustee's liability to pay
the surcharge (clause 7).
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 available to discuss the paper's contents
with Senators and Members and their staff but not with members of
the public.
ISSN 1323-9031
Commonwealth of Australia 1996
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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
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