Superannuation Legislation Amendment (New Zealand Arrangement) Bill 2012

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Superannuation Legislation Amendment (New Zealand Arrangement) Bill 2012

Introduced into the House of Representatives on 11 October 2012
Portfolio: Treasury

Committee view

1.2        The committee seeks further information from the Treasurer on the relevant safeguards for protecting personal information that may be disclosed through the information-sharing provisions in the bill before forming a view on the compatibility of the bill with the right to privacy in article 17 of the International Covenant on Civil and Political Rights (ICCPR).

Purpose of the bill

1.3        This bill amends the Income Tax Assessment Act 1997, the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 and the 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.

1.4        The Arrangement establishes a scheme to enable Australians and New Zealanders to transfer their retirement savings when they move between Australia and New Zealand, while preserving the integrity of the retirement savings systems of both countries.

Compatibility with human rights

Freedom of movement, rights in work, and right to non-discrimination

1.5        The statement of compatibility states that the bill engages and promotes the right to freedom of movement in article 12 of the International Covenant on Civil and Political Rights (ICCPR), the right to work and rights in work in article 6 and 7 of the International Covenant on Economic, Social and Cultural Rights (ICESCR) and the right to equality and non-discrimination in article 2(2) of ICESCR and article 26 of ICCPR.

1.6        The committee considers that the bill does not raise any concerns with regard to these rights.

Right to privacy

1.7        The statement of compatibility also states that the bill engages and promotes the right to privacy in article 17 of ICCPR because ‘the disclosure of personal information and details of the member's superannuation benefits is protected by transferring [the] trustee's obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, the Privacy Act 1988 and the National Privacy Principles under the Privacy Act'.

1.8        The committee notes that without further information, the assertion that the provisions are consistent with these other laws is not sufficient to demonstrate that the measures are fully consistent with the right to privacy in article 17 of ICCPR.

1.9        The committee proposes to write to the Treasurer to seek further information on the relevant safeguards for protecting personal information that may be disclosed through the information-sharing provisions in the bill. The committee also queries the claim in the statement of compatibility that the bill promotes the right to privacy, when the provisions in question would appear to limit the right instead.

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