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Tuesday, 8 February 2005
Page: 64


Senator MINCHIN (Minister for Finance and Administration) (4:38 PM) —I give notice that, on the next day of sitting, I shall move:

That the provisions of paragraphs (5) to (8) of standing order 111 not apply to the following bills, allowing them to be considered during this period of sittings:

Family Assistance Legislation Amendment (Adjustment of Certain FTB Child Rates) Bill 2004;

Private Health Insurance Incentives Amendment Bill 2004; and

Superannuation Supervisory Levy Imposition Amendment Bill 2004 and 6 related bills.

I also table statements of reasons justifying the need for these bills to be considered during these sittings and seek leave to have the statements incorporated in Hansard.

Leave granted.

The statements read as follows—

FAMILY ASSISTANCE LEGISLATION AMENDMENT (ADJUSTMENT OF CERTAIN FTB CHILD RATES) BILL

Purpose of the Bill

The bill amends the family assistance law by adjusting certain FTB child rates to maintain the value of safety net benchmarking provisions.

Reasons for Urgency

Passage in the 2005 Autumn sittings will benefit Australian families.

(Circulated by authority of the Minister for Family and Community Services)


Private Health Insurance Incen-tives Amendment Bill

Purpose of the Bill

The bill increases the Private Health Insurance rebate from 30% to 35% for people aged 65 to 79 years, and to 40% for people aged 70 years and over.

Reasons for Urgency

The legislation must be considered as soon as possible, to enable it to be implemented in April 2005, having regard to the lead time required for the health funds, the Australian Taxation Office and the Health Insurance Commission to amend their administrative processes and payment systems.

(Circulated by authority of the Minister for Health and Ageing)


SUPERANNUATION SUPERVISORY LEVY IMPOSITION AMENDMENT BILL

FINANCIAL INSTITUTIONS SUPER-VISORY LEVIES COLLECTION AMENDMENT BILL

AUTHORISED NON-OPERATING HOLD-ING COMPANIES SUPERVISORY LEVY IMPOSITION AMENDMENT BILL

LIFE INSURANCE SUPERVISORY LEVY IMPOSITION AMENDMENT BILL

GENERAL INSURANCE SUPERVISORY LEVY IMPOSITION AMENDMENT BILL

RETIREMENT SAVINGS ACCOUNT PROVIDERS SUPERVISORY LEVY IMPOSITION AMENDMENT BILL

AUTHORISED DEPOSIT-TAKING INSTIT-U-TIONS SUPERVISORY LEVY IMPOSITION AMENDMENT BILL

Purpose of the Bills

The bills implement the Government’s response to the recommendations of the Review of Financial Sector Levies by modifying the arrangements for the determination of levies imposed on the financial services sector to support the operations of the Australian Prudential Regulation Authority and certain operations of the Australian Securities and Investments Commission and the Australian Taxation Office.

Reasons for Urgency

Passage in the 2005 Autumn sittings would enable adequate consultation with industry (which is keen to see identified difficulties with the existing arrangements overcome) before the proposed 2005-06 financial sector levies need to be determined, announced and invoiced in the second quarter of 2005. The Government has announced that the new levy calculation framework is to begin for the 2005-06 levies.

(Circulated by authority of the Minister for Revenue and Assistant Treasurer)