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Notice given 14 May 2002

303  Senator Sherry: To ask the Minister for Revenue and Assistant Treasurer—

(1) What was the revenue raised from superannuation contributions tax (excluding the surcharge) for the financial years 1996-97 to 2000-01.

(2) (a) What is the projected revenue to be raised from superannuation contributions tax (excluding the surcharge) for the financial years 2001-02 to 2004-05; and (b) what are the projections for the next 40 years (reported on a 5-yearly basis).

(3) What was the revenue raised from the superannuation surcharge for the financial years 1996-97 to 2000-01.

(4) (a) What is the projected revenue to be raised from the superannuation surcharge for the financial years 2001-02 to 2004-05; and (b) what are the projections for the next 40 years (reported on a 5-yearly basis).

(5) What was the revenue raised from superannuation exit taxes for the financial years 1996-97 to 2000-01.

(6) (a) What is the projected revenue to be raised from superannuation exit taxes for the financial years 2001-02 to 2004-05; and (b) what are the projections for the next 40 years (reported on a 5-yearly basis).

(7) (a) What was the amount of salary sacrificed for superannuation for the financial years 1996-97 to 2000-01; and (b) what revenue was lost as a result.

(8) (a) What is the projected amount of salary sacrificed for superannuation for the financial years 2001-02 to 2004-05; (b) what are the projections for the next 40 years (reported on a 5-yearly basis); and (c) what revenue will be lost as a result.

(9) What was the revenue lost as a result of concessionary contributions tax for the financial years 1996-97 to 2000-01.

(10) (a) What is the projected revenue loss as a result of concessionary contributions tax for the financial years 2001-02 to 2004-05; and (b) what are the projections for the next 40 years (reported on a 5-yearly basis).

(11) What was the cost of the Senior Australians Tax Offset for the financial year 2000-01.

(12) (a) What is the projected cost of the Senior Australians Tax Offset for the financial years 2001-02 to 2004-05; and (b) what are the projections for the next 40 years (reported on a 5-yearly basis).

(13) What was the cost of the 15 per cent rebate for allocated annuities and pensions for the financial years 1996-97 to 2000-01.

(14) (a) What is the projected cost of the 15 per cent rebate for allocated annuities and pensions for the financial years 2001-02 to 2004-05; and (b) what are the projections for the next 40 years (reported on a 5-yearly basis).

304  Senator Sherry: To ask the Minister for Revenue and Assistant Treasurer—

(1) How many people are expected to benefit from the Government’s election promise to allow voluntary contributions to superannuation beyond 70 to age 75 in the first year of its operation and for the 3 years beyond.

(2) How many people are expected to benefit from the Government’s election promise to reduce the tax rate on excessive Eligible Termination Payments in the first year of its operation and for the 3 years beyond.

(3) (a) How many people are expected to benefit from the Government’s election promise to increase the deduction limit for the self-employed in the first year of its operation and for the 3 years beyond; and (b) how many of these people fall into the income ranges of: (i) $0-$9,999, (ii) $10,000-$19,999, (iii) $20,000-$29,999 (iv) $30,000-$39,999, (v) $40,000-$49,999, (vi) $50,000-$59,999, (vii) $60,000-$69,999, and (viii) $70,000 plus.

(4) (a) How many people are expected to benefit from the Government’s election promise to allow splitting of superannuation contributions in the first year of its operation and for the 3 years beyond; and (b) how many of these people fall into the income ranges of: (i) $0-$9,999, (ii) $10,000-$19,999, (iii) $20,000-$29,999, (iv) $30,000-$39,999, (v) $40,000-$49,999, (vi) $50,000-$59,999, (vii) $60,000-$69,999, and (viii) $70,000 plus.

(5) (a) How many people are expected to benefit from the Government’s election promise to reduce the rate of the surcharge contributions tax in the first year of its operation and for the 3 years beyond; and (b) how many of these people fall into the income ranges of: (i) $80,000-$89,999, (ii) $90,000-$99,999 (iii) $100,000-$109,999, (iv) $110,000-$149,999, (v) $150,000-$249,999, (vi) $250,000-$499,999, (vii) $500,000-$999,999, and (viii) $1 million plus.

(6) (a) How many people (in terms of those who are making the contributions and those who receive them) are expected to benefit from the Government’s election promise to allow superannuation contributions for children in the first year of its operation and for the 3 years beyond; and (b) how many of these people fall into the income ranges of: (i) $0-$9,999, (ii) $10,000-19,999, (iii) $20,000-$29,999, (iv) $30,000-$39,999, (v) $40,000-$49,999, (vi) $50,000-$59,999, (vii) $60,000-$69,999, (viii) $70,000-$79,999, (ix) $80,000-$89,999, (x) $90,000-$99,000, (xi) $100,000-$109,999, (xii) $110,000-$149,999, (xiii) $150,000-$249,000, (xiv) $250,000-$499,999, (xv) $500,000-$999,999, and (xvi) $1 million plus.

305  Senator Sherry: To ask the Minister for Revenue and Assistant Treasurer—With reference to page 9 of the Superannuation Working Group’s Issues Paper, presented on 2 October 2001, which describes problems encountered by the Australian Prudential Regulation Authority (APRA) ‘with some of the smaller corporate funds, where most of its enforcement action is concentrated’, and to the statement by the then Minister for Financial Services and Regulation, (Mr Hockey) in presenting the paper, ‘It is going to be hard particularly for industry funds. It’s going to mean that the representatives of some workers on those industry funds, including union officials, are going to start to be held accountable for investment decisions’:

(1) Is APRA aware of any instances where trustees of industry or corporate superannuation funds who are union officials have been responsible for inappropriate conduct of the type outlined in the working group’s issues paper.

(2) Did APRA provide any advice to Mr Hockey to this effect before he made his remarks on 2 October 2001.

306  Senator Sherry: To ask the Minister for Revenue and Assistant Treasurer—

(1) With reference to the answer to a question taken on notice during additional estimates hearings regarding the Australian Prudential Regulation Authority’s new draft reporting requirements, does the Australian Prudential Regulation Authority (APRA) currently collect data, in fund annual returns or by other means, on the administration and/or investment costs of superannuation or on any fees, charges and commissions levied against members’ accounts; if so, why is this information not made publicly available; if not, why not.

(2) What relationship, if any, is there between the data to be collected under APRA’s draft reporting requirements and the disclosure requirements under the Corporations Act 2001 following the passage of the Financial Services Reform Act 2001 .

(3) Has APRA held any discussions with the Australian Securities and Investment Commission about how the draft reporting standard might complement these disclosure provisions.

(4) When does APRA expect the draft reporting requirements will be implemented and the data collected first published.

(5) At what level of detail does APRA propose to publish the data collected under the draft reporting requirements.

(6) (a) Will the draft reporting standard collect data on fees and expenses only on a ‘whole of fund basis’; if so, why; and (b) does this have the potential to misrepresent expenses for funds offering multiple products with different fees.

307  Senator Sherry: To ask the Minister for Revenue and Assistant Treasurer—With reference to an answer to a question taken on notice during additional estimates hearings, in which the Minister informed the Economics Legislation Committee that the Australian Taxation Office had conducted 141 prosecutions (involving 177 charges) in respect of superannuation guarantee matters over the financial years 1996-97 to 2000-01, and that from 1 July 2001 to mid-February 2002, there were 10 prosecutions involving 10 charges:

(1) How many prosecutions have been commenced since mid-February 2002.

(2) Can a breakdown be provided of the outcomes from this total of 151 prosecutions involving 187 charges from 1996-97 to mid-February 2002 as well as any subsequent prosecutions.

(3) In the period from 1996-97 until mid-February 2002, how many employers have been the subject of employee notifications of insufficient employer contributions.

(4) Since mid-February 2002, how many employers have been the subject of employee notifications of insufficient employer contributions.

309  Senator Brown: To ask the Minister representing the Minister for the Environment and Heritage—With reference to the current application by Phosphate Resources Ltd for nine new mining leases on Christmas Island:

(1) Can the Minister confirm that on 11 February 1988 the then Minister for the Arts and Territories, the Honourable Gary Punch MP, announced that the Federal Government would not allow any further rainforest clearing on Christmas Island as it was inconsistent with the Government’s long-term strategy for the island.

(2) Can the Minister confirm that the then Prime Minister, the Honourable Robert Hawke MP, wrote to the Duke of Edinburgh in 1988 regarding new mining proposals stating that, ‘My government has made it clear, in examining these proposals, that approval will only be granted under the strictest environmental conditions and provided that no further clearing of rainforest occurs’.

(3) Did mining leases granted in 1988 or at any time thereafter for the mining of phosphate prohibit rainforest clearing as a condition of the lease.

(4) Is it still Government policy to allow no further clearing of rainforest on Christmas Island; if not, when was the policy changed to allow for such clearance.

(5) Do the Environment, Protection and Biodiversity Conservation Regulations pertaining to the conservation of biodiversity in Commonwealth areas prohibit the clearing of habitat for native species in those areas.

(6) Why was an application for new mining leases on Christmas Island advanced to the stage of an Environmental Impact Statement (EIS) assessment when most of those leases were for land covered by primary rainforest.

(7) Will the Minister: (a) now reject the application for new mining leases over areas covered by primary rainforest; and (b) in view of the above, abort the EIS process as redundant for those areas.

312  Senator Allison: To ask the Minister representing the Minister for the Environment and Heritage—With reference to questions on notice nos 61 to 76, which the Minister has advised will all be transferred from the departments to which they were addressed, to the Department of Environment and Heritage:

(1) What is the reason for this decision.

(2) If individual departments are unable to answer the questions, how is it that the Minister for Environment and Heritage can do so.

(3) What is the process by which questions will be coordinated.