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• Superannuation Legislation Amendment (Reducing Illegal Early Release and Other Measures) Bill 2012

  Track (What's this?)

  Date

  29 Nov 2012 

  Chamber

  House of Representatives 

  Status

  Not Proceeding 

  Portfolio

  Treasury 

  Summary

  Introduced with the Income Tax Rates Amendment (Unlawful Payments from Regulated Superannuation Funds) Bill 2012, the bill amends the:

  Superannuation Industry (Supervision) Act 1993

  to provide for civil and criminal penalties for persons who promote a scheme that has resulted, or is likely to result, in the illegal early release of superannuation benefits;

  Anti-Money Laundering and Counter-Terrorism Financing Act 2006

  to require that superannuation benefits that are rolled over into self-managed superannuation funds (SMSFs) are captured as a designated service; and

  Superannuation Industry (Supervision) Act 1993

  and

  Taxation Administration Act 1953

  to provide for administrative directions and penalties for contraventions relating to SMSFs. 

  Bill | Explanatory Memorandum

• Superannuation Legislation Amendment (Service Providers and Other Governance Measures) Bill 2013

  Track (What's this?)

  Date

  29 Nov 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Corporations Act 2001

  to require registrable superannuation entity licensees that are also responsible entities of registered managed investment schemes to comply with requirements on adequate resources and risk management systems;

  Superannuation Industry (Supervision) Act 1993

  to: over-ride any provision in the governing rules of a registrable superannuation entity that requires the trustee to use a specified service provider, investment entity or financial product; enable the Australian Prudential Regulation Authority to issue infringement notices for a broader range of breaches of the Act; require superannuation trustees to provide eligible persons, generally on request, with the reasons for decisions made in relation to a complaint; require persons seeking to take legal action against a director for a breach of their duties to first seek leave from the court; extend the availability of certain legal defences to directors and trustees; remove restrictions on director voting; clarify the definition of ‘superannuation contribution’ to include defined benefits; and make consequential amendments;

  Superannuation (Resolution of Complaints) Act 1993

  to increase the time limits within which beneficiaries can lodge complaints with the Superannuation Complaints Tribunal regarding total and permanent disability claims;

  First Home Saver Accounts Act 2008

  to make consequential amendments; and

  Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012

  to make technical amendments. 

  Bill | Explanatory Memorandum

• Superannuation Legislation Amendment (New Zealand Arrangement) Bill 2012

  Track (What's this?)

  Date

  11 Oct 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Income Tax Assessment Act 1997

  ,

  Superannuation (Government Co-contribution for Low Income Earners) Act 2003

  and

  Taxation Administration Act 1953

  to implement the Arrangement on Trans-Tasman Retirement Savings Portability to enable Australians and New Zealanders to transfer retirement savings between the two countries. 

  Bill | Explanatory Memorandum

• Social and Community Services Pay Equity Special Account (Consequential Amendments) Bill 2012

  Track (What's this?)

  Date

  10 Oct 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Families, Housing, Community Services and Indigenous Affairs 

  Summary

  Introduced with the Social and Community Services Pay Equity Special Account Bill 2012, the bill amends the

  COAG Reform Fund Act 2008

  to make an amendment consequential on the creation of the Social and Community Services Pay Equity Special Account. 

  Bill | Explanatory Memorandum

• Social and Community Services Pay Equity Special Account Bill 2012

  Track (What's this?)

  Date

  10 Oct 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Families, Housing, Community Services and Indigenous Affairs 

  Summary

  Introduced with the Social and Community Services Pay Equity Special Account (Consequential Amendments) Bill 2012, the bill creates a special account under the

  Financial Management and Accountability Act 1997

  to administer the social and community services award funding adjustments for providers of certain Commonwealth programs that have been identified as having social and community services workers covered by the Fair Work Australia equal remuneration order granted on 1 February 2012. 

  Bill | Explanatory Memorandum

• Superannuation Auditor Registration Imposition Bill 2012

  Track (What's this?)

  Date

  19 Sep 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Bill 2012, the bill imposes fees on certain matters to recover the costs of establishing the self-managed superannuation fund auditor registration regime. 

  Bill | Explanatory Memorandum

• Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Bill 2012

  Track (What's this?)

  Date

  19 Sep 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Superannuation Auditor Registration Imposition Bill 2012, the bill amends: the

  Income Tax Assessment Act 1997

  and

  Tax Laws Amendment (2009 Measures No. 6) Act 2010

  to reinstate the temporary loss relief for merging superannuation funds with certain modifications; the

  Superannuation Industry (Supervision) Act 1993

  and

  Taxation Administration Act 1953

  to introduce a registration regime for auditors of self-managed superannuation funds; the

  Taxation Administration Act 1953

  to expand the information required to be reported by superannuation providers to the Commissioner of Taxation; the

  Superannuation Industry (Supervision) Act 1993

  and

  Retirement Savings Accounts Act 1997

  to facilitate the electronic transmission of payments and associated information between certain funds, schemes and providers by providing for a register to be kept by the Commissioner of Taxation; and five Acts to make technical amendments. 

  Bill | Explanatory Memorandum

• Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Bill 2012

  Track (What's this?)

  Date

  19 Sep 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Superannuation Industry (Supervision) Act 1993

  to: require registrable superannuation entities to elect not to charge commissions in respect of amounts held in a MySuper product; make rules governing the charging for financial advice including intrafund advice and the general fee rules to apply to regulated superannuation funds and approved deposit funds; require trustees to transfer certain existing balances of members to MySuper; and require trustees to obtain authorisation from the Australian Prudential Regulation Authority (APRA) to operate an eligible rollover fund;

  Superannuation Guarantee (Administration) Act 1992

  and

  Superannuation Industry (Supervision) Act 1993

  to: require trustees to provide minimum levels of life and total and permanent disability insurance to members on an opt-out basis; and allow exceptions from MySuper for members of defined benefit funds;

  Australian Prudential Regulation Authority Act 1998

  ,

  Corporations Act 2001

  ,

  Financial Sector (Collection of Data) Act 2001

  and

  Superannuation Industry (Supervision) Act 1993

  to: expand the coverage of APRA’s data collection; enable the publication of MySuper product data; and require certain information to be published;

  Fair Work Act 2009

  ,

  Superannuation Guarantee (Administration) Act 1992

  and

  Superannuation Industry (Supervision) Act 1993

  to allow only funds that offer a MySuper product and exempt public sector superannuation schemes to be eligible as default funds in modern awards and enterprise agreements; and

  Retirement Savings Accounts Act 1997

  ,

  Superannuation Guarantee (Administration) Act 1992

  and

  Superannuation Industry (Supervision) Act 1993

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Social Security and Other Legislation Amendment (Further 2012 Budget and Other Measures) Bill 2012

  Track (What's this?)

  Date

  12 Sep 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Families, Housing, Community Services and Indigenous Affairs 

  Summary

  Amends the:

  Social Security (Administration) Act 1999

  to extend the welfare reform trial in the Cape York area to 1 January 2014;

  Indigenous Education (Targeted Assistance) Act 2000

  to increase the appropriations for non-ABSTUDY payments in 2012 and 2013;

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

  ,

  Child Support (Registration and Collection) Act 1988

  ,

  Paid Parental Leave Act 2010

  and

  Social Security (Administration) Act 1999

  to: enable a Social Security Appeals Tribunal (SSAT) member to release protected information in certain circumstances; enable an SSAT member to issue a non-disclosure order during a review; extend confidentiality obligations to everyone providing services at a review hearing; allow the SSAT Principal Member to reconstitute the SSAT; clarify that the SSAT Principal Member perform functions and powers enabling certain standards for the review process; and make technical amendments;

  Child Support (Assessment) Act 1989

  and

  Child Support (Registration and Collection) Act 1988

  to clarify arrangements when the amount of child support payable under a child support assessment is reduced in certain circumstances; and

  A New Tax System (Family Assistance) Act 1999

  ,

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

  and

  Social Security Act 1991

  to make technical amendments. 

  Bill | Explanatory Memorandum

• Statute Law Revision Bill 2012

  Track (What's this?)

  Date

  15 Aug 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Attorney-General 

  Summary

  Amends: 78 Acts to correct technical errors; nine Acts to update references to regulations made under the

  Civil Aviation Act 1988

  ; 13 Acts to make amendments consequential on amendments to the

  Acts Interpretation Act 1901

  and the enactment of the

  Legislative Instruments Act 2003

  ; three Acts to update references to ministers and departments; and 38 Acts to repeal obsolete provisions. Also repeals five Acts and makes amendments to the

  Income Tax Assessment Act 1997

  consequential on the repeals. 

  Bill | Explanatory Memorandum