Bills Digest 125 1996-97
Superannuation Contributions Surcharge (Application to the Commonwealth-Reduction
of Benefits) Bill 1997
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
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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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