Second Reading Speeches

Financial Framework Legislation Amendment Bill (No. 2) 2012

Type
Government
Portfolio
Finance and Deregulation
Originating house
House of Representatives
Status
Act
Parliament no
43

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Summary

Amends: nine Acts to provide a mechanism (a ‘recoverable payment’) to provide authority for inadvertent overpayments of certain benefits and for their recovery;

Taxation Administration Act 1953
to enable the Commissioner of Taxation to make a ‘recoverable advance’ of an amount to which the recipient may become entitled to in future because the likely cost of not making these payments would exceed the total of the advance; seven Acts to authorise the Commonwealth to make ‘recoverable death payments’ to recipients until ComSuper or the relevant secretary is notified of the recipient’s death; eight Acts to require that where recoverable payments, advances or death payments are made, the relevant secretary or chief executive ensures that a report is published; 11 Acts to align administrative processes for making certain payments with the relevant legislation;
ComSuper Act 2011
to enable the Chief Executive Officer to delegate certain functions and powers;
National Residue Survey Administration Act 1992
to clarify that an expenditure program may be approved by the minister after payments are required to be made; and
Superannuation Act 1976
to clarify that the Commonwealth Superannuation Corporation’s (CSC) ability to recover amounts of benefit paid applies only to amounts paid by CSC. Also validates certain benefits under the
Defence Force Retirement and Death Benefits Act 1973
to regularise the treatment of certain benefit recipients.

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