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Footnotes

Chapter 1 Introduction

[1] [2010] Federal Court of Australia Full Court (FCAFC) 84.

[2] Tax and Superannuation Laws Amendment (2012 Measures No. 1) Bill 2012, Explanatory Memorandum (EM), pp. 9-11.

[3] [2009] FCAFC 178.

[4] Tax and Superannuation Laws Amendment (2012 Measures No. 1) Bill 2012, EM, pp. 19-20.

[5] Tax and Superannuation Laws Amendment (2012 Measures No. 1) Bill 2012, EM, pp. 35-37.

[6] Treasury, Concessional superannuation contribution caps for individuals aged 50 and over, Consultation Paper, February 2011, p. 1.

[7] Tax and Superannuation Laws Amendment (2012 Measures No. 1) Bill 2012, EM, p. 37.

[8] Tax and Superannuation Laws Amendment (2012 Measures No. 1) Bill 2012, EM, pp. 39-45.

[9] Max Newnham, ‘Super law sleight of hand trumps fairness and equity, Sydney Morning Herald, 9 March 2012, p. 10.

[10] Tax and Superannuation Laws Amendment (2012 Measures No. 1) Bill 2012, EM, p. 58.

[11] Tax and Superannuation Laws Amendment (2012 Measures No. 1) Bill 2012, EM, pp. 57-60.

[12] Tax and Superannuation Laws Amendment (2012 Measures No. 1) Bill 2012, EM, pp. 63-65.

[13] Tax and Superannuation Laws Amendment (2012 Measures No. 1) Bill 2012, EM, p. 6.

[14] [2011] FCAFC 142.

[15] Tax and Superannuation Laws Amendment (2012 Measures No. 1) Bill 2012, EM, pp. 71-72.

[16] See Schedule 7 of the Bill.

[17] Tax and Superannuation Laws Amendment (2012 Measures No. 1) Bill 2012, EM, pp. 6-7.

[18] The Hon. Mr Peter Costello MP, Treasurer, House of Representatives Hansard, 7 December 2006, p. 1.

[19] Sections 292-20 and 960-285 of the Income Tax Assessment Act 1997, as amended by the Tax Laws Amendment (Simplified Superannuation) Act 2007.

[20] The Hon. Mr Peter Costello MP, Treasurer, House of Representatives Hansard, 7 December 2006, p. 2.

[21] Australia’s future tax system, ‘Retirement income consultation paper, 3 – An acceptable retirement income system’, viewed on 13 March 2012 at http://taxreview.treasury.gov.au/content/ConsultationPaper.aspx?doc=html/publications/Papers/Retirement_Income_Consultation_Paper/Chapter_3.htm.

[22] The Hon. Mr Wayne Swan MP, Treasurer, House of Representatives Hansard, 27 May 2009, p. 4443.

[23] Australia’s future tax system, Report to the Treasurer, Part Two, Detailed Analysis, vol. 1, December 2009, p. 100.

[24] Max Newnham, ‘Penalties for excess super contributions need review’ Business Day, viewed on 13 March 2012 at http://www.smh.com.au/business/penalties-for-excess-super-contributions-need-review-20100408-rv8r.html; Liz Westover, ‘Excess Contributions Tax ... the saga continues’, viewed on 13 March 2012 at https://www.charteredaccountants.com.au/secure/myCommunity/blogs/lwestover/superannuation-blogs/122/excess-contributions-tax-the-saga-continues.

[25] The Hon. Senator Nick Sherry, Assistant Treasurer, Senate Hansard, 3 March 2011, p. 1199.

[26] Australian Taxation Office (ATO), ‘Excess contributions tax statistical report’ viewed on 13 March 2012 at http://www.ato.gov.au/superfunds/content.aspx?menuid=0&doc=/content/00286671.htm&page=1&H1.

[27] John Hewison, ‘Excess superannuation contributions tax,’ Hewison Private Wealth, viewed on 14 March 2012 at http://www.hewison.com.au/live/blog/read/excess-superannuation-contributions-tax-%E2%80%93-unfair-government-revenue-raising.

[28] ATO, Annual Report 2010-11, pp. 76, 106.

[29] Max Newnham, ‘Penalties for excess super contributions need review’ Business Day, viewed on 13 March 2012 at http://www.smh.com.au/business/penalties-for-excess-super-contributions-need-review-20100408-rv8r.html; Gillian Bullock, ‘Canberra should stop tinkering with super’ Weekend Australian, 25 February 2012, p. 32.

[30] Australian National Audit Office (ANAO), Administration of the Superannuation Lost Members Register, February 2011, Audit Report No. 31, 2010-11, pp. 14-15, 98-120.

[31] Recommendation 23(b), Australia’s future tax system, Report to the Treasurer, Part Two, Detailed Analysis, vol. 1, December 2009, pp. 128-30.

[32] Inspector General of Taxation (IGT), The Review into the ATO’s administration of the Superannuation Guarantee Charge, March 2010, p. 3.

[33] IGT, The Review into the ATO’s administration of the Superannuation Guarantee Charge, March 2010, p. 4.

[34] IGT, The Review into the ATO’s administration of the Superannuation Guarantee Charge, March 2010, p. 4.

[35] IGT, The Review into the ATO’s administration of the Superannuation Guarantee Charge, March 2010, p. 5.

[36] IGT, The Review into the ATO’s administration of the Superannuation Guarantee Charge, March 2010, p. 6.

[37] Super System Review, Final Report: Part Two, Recommendation Packages, June 2010, pp. 297-98.

[38] Australian Labor, ‘Protecting Workers’ Entitlements Package,’ viewed on 14 March 2012 at http://www.alp.org.au/protecting-workers-entitlements-package/.

[39] Institute of Certified Bookkeepers (ICB), ‘Submissions: Exposure Draft - Payslip Reporting of Superannuation Contributions’, Treasury, viewed on 14 March 2012 at http://www.treasury.gov.au/contentitem.asp?NavId=066&ContentID=2320.

[40] Treasury, Superannuation: Payslip Reporting: Summary of Consultation Process, pp. 2, 4, viewed on 14 March 2012 at http://www.treasury.gov.au/documents/2310/PDF/ Consultation_Summary.pdf.

[41] Treasury, Superannuation: Payslip Reporting: Summary of Consultation Process, p. 1, viewed on 14 March 2012 at http://www.treasury.gov.au/documents/2310/PDF/ Consultation_Summary.pdf.

[42] IGT, Review of Tax Office administration of GST refunds resulting from the lodgment of credit BASs, January 2005.

[43] Australian National Audit Office (ANAO), Administration of High Risk Income Tax Refunds in the Individuals and Micro Enterprises Market Segments, November 2007, Audit Report No. 12, 2007-08.

Chapter 2 Issues in the Bill

[1] Certified Public Accountants Australia (CPA Australia), Submission 3, p. 2.

[2] CPA Australia, Submission 3, p. 1.

[3] Mr Michael Davison, CPA Australia, Committee Hansard, Canberra, 16 March 2012, p. 2.

[4] The Institute of Chartered Accountants in Australia (ICAA) and the Self Managed Super Fund Professionals’ Association of Australia (SPAA), Committee Hansard, Canberra, 16 March 2012, p. 2.

[5] Association of Superannuation Funds of Australia (ASFA), Submission 5, p. 2.

[6] Mr Robert Hodge, ASFA, Committee Hansard, Canberra, 16 March 2012, p. 3.

[7] Ms Ruth Gabbitas, Treasury, Committee Hansard, Canberra, 16 March, 2012, p. 5.

[8] Ms Ruth Gabbitas, Treasury, Committee Hansard, Canberra, 16 March 2012, p. 4.

[9] Mr David Haynes, Australian Institute of Superannuation Trustees (AIST), Committee Hansard, Canberra, 16 March 2012, p. 6.

[10] Mr Ross Clare, ASFA, Committee Hansard, Canberra, 16 March 2012, p. 6.

[11] Mr Ross Clare, ASFA, Committee Hansard, Canberra, 16 March 2012, p. 5.

[12] Ms Andrea Slattery, SPAA, Committee Hansard, Canberra, 16 March 2012, p. 5.

[13] ICAA, Submission 6, p. 3.

[14] ICAA, Submission 6, p. 3.

[15] Mr Michael Davison, CPA Australia, Committee Hansard, Canberra, 16 March 2012, p. 8.

[16] ASFA, Submission 5, p. 2.

[17] ASFA, Submission 5, p. 2.

[18] ASFA, Submission 5, p. 2.

[19] Ms Ruth Gabbitas, Treasury, Committee Hansard, Canberra, 16 March 2012, p. 9.

[20] Mr Thomas Garcia, AIST, Committee Hansard, Canberra, 16 March 2012, p. 10.

[21] Mr Brett Peterson, ATO, Committee Hansard, Canberra, 16 March 2012, p. 12.

[22] The Hon. William Shorten MP, Minister for Financial Services and Superannuation, House of Representatives Hansard, 1 March 2012, p. 1.

[23] Ms Ruth Gabbitas, Treasury, Committee Hansard, Canberra, 16 March 2012, p. 9.

[24] Mr David Haynes and Mr Thomas Garcia, AIST, Committee Hansard, Canberra, 16 March 2012, p. 11.

[25] Mrs Andrea Slattery, SPAA, Committee Hansard, Canberra, 16 March 2012, p. 10.

[26] Mrs Andrea Slattery, SPAA, Committee Hansard, Canberra, 16 March 2012, p. 10.

[27] Mr Robert Hodge, ASFA, Committee Hansard, Canberra, 16 March 2012, p. 13.

[28] Australia’s future tax system, Report to the Treasurer, Part Two, Detailed Analysis, vol. 1, December 2009, pp. 128-30.

[29] Mr Robert Hodge, ASFA, Committee Hansard, Canberra, 16 March 2012, p. 13.

[30] Mr Brett Peterson, ATO, Committee Hansard, Canberra, 16 March 2012, p. 16.

[31] Mr Michael Davison, CPA Australia, Committee Hansard, Canberra, 16 March 2012, p. 8.

[32] Ms Ruth Gabbitas, Treasury, Committee Hansard, Canberra, 16 March 2012, pp. 12-13.

[33] Mr Brett Peterson, ATO, Committee Hansard, Canberra, 16 March 2012, p. 13.

[34] Mr David Haynes, AIST, Committee Hansard, Canberra, 16 March, 2012, p. 13.

[35] CPA Australia, Submission 3, p. 3.

[36] ASFA, Submission 5, p. 2.

[37] Mr David Haynes, AIST, Committee Hansard, Canberra, 16 March, 2012, p. 13.

[38] Mr David Haynes, AIST, Committee Hansard, Canberra, 16 March, 2012, p. 16.

[39] Mr Brett Peterson, ATO, Committee Hansard, Canberra, 16 March, 2012, p. 14.

[40] Mr Brett Peterson, ATO, Committee Hansard, Canberra, 16 March, 2012, p. 14.

[41] Mr David Haynes, AIST, Committee Hansard, Canberra, 16 March, 2012, p. 14.

[42] Mr Robert Hodge, ASFA, Committee Hansard, Canberra, 16 March, 2012, p. 16.

[43] Mr Robert Hodge, ASFA, Committee Hansard, Canberra, 16 March, 2012, p. 16.

[44] Ms Ruth Gabbitas, Treasury, Committee Hansard, Canberra, 16 March 2012, p. 19; Mr David Haynes, AIST, Committee Hansard, Canberra, 16 March 2012, p. 19.

[45] AIST, Submission 2, p. 9.

[46] Ms Ruth Gabbitas, Treasury, Committee Hansard, Canberra, 16 March 2012, p. 19.

[47] Mr Ross Clare, ASFA, Committee Hansard, Canberra, 16 March 2012, p. 17; Mrs Andrea Slattery, SPAA, Committee Hansard, Canberra, 16 March 2012, p. 18.

[48] Tax and Superannuation Laws Amendment (2012 Measures No. 1) Bill 2012, Explanatory Memorandum, p. 64.

[49] Mr David Haynes, AIST, Committee Hansard, Canberra, 16 March 2012, p. 17.

[50] Mr David Haynes, AIST, Committee Hansard, Canberra, 16 March 2012, p. 18.

[51] Mr Robert Hodge, ASFA, Committee Hansard, Canberra, 16 March 2012, p. 18.

[52] The Institute of Certified Bookkeepers (ICB), ‘Submissions: Exposure Draft – Payslip Reporting of Superannuation Contributions’, Treasury, 16 February 2012, pp. 1-2.

[53] ICB, ‘Submissions: Exposure Draft – Payslip Reporting of Superannuation Contributions’, Treasury, 16 February 2012, p. 1.

[54] Ms Elizabeth Westover, ICAA, Committee Hansard, Canberra, 16 March 2012, p. 19.

[55] Mr David Haynes, AIST, Committee Hansard, Canberra, 16 March 2012, p. 17.

[56] Mr Robert Hodge, ASFA, Committee Hansard, Canberra, 16 March 2012, p. 21.

[57] ICAA, Submission 6, p. 4.

[58] Mr David Haynes, AIST, Committee Hansard, Canberra, 16 March 2012, p. 18.

[59] Mr Thomas Garcia, AIST, Committee Hansard, Canberra, 16 March 2012, p. 18.

[60] Mr Micheal Davison, CPA Australia, Committee Hansard, Canberra, 16 March 2012, p. 21.

[61] Mr David Haynes, AIST, Committee Hansard, Canberra, 16 March 2012, p. 18; Mr Michael Davison, CPA Australia, Committee Hansard, Canberra, 16 March 2012, p. 17.

[62] The discussion is drawn from the Law Council of Australia, Submission 7, pp. 2-5.

[63] Withholding for 14 days; objection within 60 days; 60 days must pass before the taxpayer can require the ATO to decide on the objection; and after a further 60 days, the ATO is deemed to have disallowed the taxpayer’s objection – see Law Council of Australia, Submission 7, p. 4.

[64] Ms Gina Lazanas, Law Council of Australia, Committee Hansard, Canberra, 16 March 2012, p. 23.

[65] Ms Margot Tredoux, Treasury, Committee Hansard, Canberra, 16 March 2012, p. 26.

[66] Ms Brenda Berkeley, Treasury, Committee Hansard, Canberra, 16 March 2012, p. 25.

[67] Ms Brenda Berkeley, Treasury, Committee Hansard, Canberra, 16 March 2012, p. 25.

[68] Mr James O’Halloran, ATO, Committee Hansard, Canberra, 16 March 2012, p. 28.

[69] Ms Brenda Berkeley, Treasury, Committee Hansard, Canberra, 16 March 2012, p. 29.

[70] Ms Brenda Berkeley, Treasury, Committee Hansard, Canberra, 16 March 2012, pp. 23, 27.

[71] Mr James O’Halloran, ATO, Committee Hansard, Canberra, 16 March 2012, pp. 24, 29.

[72] Ms Brenda Berkeley, Treasury, Committee Hansard, Canberra, 16 March 2012, p. 24; Ms Gina Lazanas, Law Council of Australia, Committee Hansard, Canberra, 16 March 2012, p. 28.