| Title | Superannuation Legislation Amendment Bill 2010 |
| Database | Bills & Legislation |
| Long Title | a Bill for an Act to amend the law relating to superannuation, and for related purposes |
| Date | 25-10-2010 08:03 PM |
| Source | House of Reps |
| Parl No. | 43 |
| Bill Number | 197/10 |
| Bill Type | Government |
| Portfolio | Treasury |
| Reps Bill Code | T |
| Status | Act |
| System Id | legislation/bills/r4458_aspassed/0000 |
2010
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
As passed by both Houses
Superannuation Legislation Amendment Bill 2010
No. , 2010
A Bill for an Act to amend the law relating to superannuation, and for related purposes
Contents
1............ Short title............................................................................................. 1
2............ Commencement................................................................................... 1
3............ Schedule(s)......................................................................................... 2
4............ Amendment of assessments................................................................ 3
Schedule 1âUnclaimed money 4
Part 1âAmendment of the Superannuation (Unclaimed Money and Lost Members) Act 1999 4
Part 2âAmendment of the Income Tax Assessment Act 1997 11
Part 3âApplication provision 13
Schedule 2âDisability insurance premiums paid by superannuation funds 14
Part 1â2004â05 to 2006â07 income years 14
Part 2â2007â08 to 2010â11 income years 16
Division 1âMain amendments 16
Income Tax Assessment Act 1997 16
Income Tax (Transitional Provisions) Act 1997 16
Division 2âSunsetting on 1 January 2017 18
Income Tax Assessment Act 1997 18
Income Tax (Transitional Provisions) Act 1997 18
Schedule 3âSuperanuation and relationship breakdowns 19
Superannuation Industry (Supervision) Act 1993 19
Schedule 4âOther amendments 23
Part 1âNotices of intent to deduct 23
Income Tax Assessment Act 1997 23
Tax Laws Amendment (2009 Measures No. 6) Act 2010 28
Part 2âEmployer contributions 29
Income Tax Assessment Act 1997 29
Part 3âShortfall interest charge 32
Taxation Administration Act 1953 32
Part 4âExcess contributions tax 33
Income Tax Assessment Act 1997 33
Part 5âPublic sector defined benefit schemes 34
Income Tax Assessment Act 1997 34
Part 6âAmendment of the Superannuation (Unclaimed Money and Lost Members) Act 1999 35
Part 7âApplication and transitional provisions 36
A Bill for an Act to amend the law relating to superannuation, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the Superannuation Legislation Amendment Act 2010.
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
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Commencement information |
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Column 1 |
Column 2 |
Column 3 |
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Provision(s) |
Commencement |
Date/Details |
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1. Sections 1 to 4 and anything in this Act not elsewhere covered by this table |
The day this Act receives the Royal Assent. |
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The day after this Act receives the Royal Assent. |
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3. Schedule 2, items 1 to 5 |
A single day to be fixed by Proclamation. However, if any of the provision(s) do not commence within the period of 6 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period. |
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4. Schedule 2, items 6 and 7 |
1 January 2017. |
1 January 2017 |
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5. Schedule 3 |
The day after this Act receives the Royal Assent. |
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6. Schedule 4, Parts 1 and 2 |
The day after this Act receives the Royal Assent. |
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7. Schedule 4, Part 3 |
The day this Act receives the Royal Assent. |
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8. Schedule 4, Parts 4 to 7 |
The day after this Act receives the Royal Assent. |
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Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.
(2) Any information in Column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of item 1 of Schedule 2 to this Act; and
(b) the amendment is made within 2 years after that commencement; and
(c) the amendment is made for the purpose of giving effect to that item.