Title Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018
Database Bills & Legislation
Long Title a Bill for an Act to amend the law relating to superannuation, and for related purposes
Date 21-06-2018 10:50 AM
Source House of Reps
Parl No. 45
Bill Number 127/18
Bill Type Government
Portfolio Treasury
Reps Bill Code M
Status Act
System Id legislation/bills/r6141_first-reps/0000


Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018
</head> <body lang="EN-AU" xml:lang="EN-AU"> <div class="WordSection1"> <p class="Session">2016‑2017‑2018</p> <p class="MsoNormal"><span style="font-size:14.0pt"> </span></p> <p class="MsoNormal"><span style="font-size:14.0pt">The Parliament of the</span></p> <p class="MsoNormal"><span style="font-size:14.0pt">Commonwealth of Australia</span></p> <p class="MsoNormal"><span style="font-size:14.0pt"> </span></p> <p class="House">HOUSE OF REPRESENTATIVES</p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="Reading">Presented and read a first time</p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="ShortT">Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018</p> <p class="MsoNormal"> </p> <p class="Actno">No.      , 2018</p> <p class="MsoNormal"> </p> <p class="Portfolio">(Treasury)</p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="LongT">A Bill for an Act to amend the law relating to superannuation, and for related purposes</p> <p class="MsoHeader"><span class="CharAmSchNo"> </span><span class="CharAmSchText"> </span></p> <p class="MsoHeader"><span class="CharAmPartNo"> </span><span class="CharAmPartText"> </span></p> </div> <span style="font-size:11.0pt;font-family:"Times New Roman","serif""><br clear="all" style="page-break-before:always"/></span> <div class="WordSection2"> <p class="MsoNormal"><span style="font-size:18.0pt">Contents</span></p> <p class="MsoToc5">1............ Short title............................................................................................. 1</p> <p class="MsoToc5">2............ Commencement................................................................................... 1</p> <p class="MsoToc5">3............ Schedules............................................................................................ 2</p> <p class="MsoToc6">Schedule 1—Fees charged to superannuation members<span style="font-size:9.0pt;font-weight:normal">                               </span> <span style="font-size:9.0pt;font-weight:normal">3</span></p> <p class="MsoToc7">Part 1—Amendments<span style="font-size:9.0pt">                                                                                                   </span> <span style="font-size:9.0pt">3</span></p> <p class="MsoToc9">Superannuation Industry (Supervision) Act 1993<span style="font-size:9.0pt;font-style:normal">                                               </span> <span style="font-size:9.0pt;font-style:normal">3</span></p> <p class="MsoToc7">Part 2—Application provisions<span style="font-size:9.0pt">                                                                               </span> <span style="font-size:9.0pt">8</span></p> <p class="MsoToc6">Schedule 2—Insurance for superannuation members<span style="font-size:9.0pt;font-weight:normal">                                 </span> <span style="font-size:9.0pt;font-weight:normal">10</span></p> <p class="MsoToc7">Part 1—Amendments<span style="font-size:9.0pt">                                                                                                 </span> <span style="font-size:9.0pt">10</span></p> <p class="MsoToc9">Superannuation Industry (Supervision) Act 1993<span style="font-size:9.0pt;font-style:normal">                                             </span> <span style="font-size:9.0pt;font-style:normal">10</span></p> <p class="MsoToc7">Part 2—Application and transitional provisions<span style="font-size:9.0pt">                                           </span> <span style="font-size:9.0pt">16</span></p> <p class="MsoToc6">Schedule 3—Inactive low‑balance accounts and consolidation into active accounts<span style="font-size:9.0pt;font-weight: normal">        </span> <span style="font-size:9.0pt;font-weight:normal">21</span></p> <p class="MsoToc7">Part 1—Amendments<span style="font-size:9.0pt">                                                                                                 </span> <span style="font-size:9.0pt">21</span></p> <p class="MsoToc9">Income Tax Assessment Act 1997<span style="font-size:9.0pt; font-style:normal">                                                                           </span> <span style="font-size:9.0pt;font-style:normal">21</span></p> <p class="MsoToc9">Superannuation (Unclaimed Money and Lost Members) Act 1999<span style="font-size:9.0pt;font-style:normal">                </span> <span style="font-size:9.0pt;font-style:normal">23</span></p> <p class="MsoToc9">Taxation Administration Act 1953<span style="font-size:9.0pt; font-style:normal">                                                                        </span> <span style="font-size:9.0pt;font-style:normal">44</span></p> <p class="MsoToc7">Part 2—Application and transitional provisions<span style="font-size:9.0pt">                                           </span> <span style="font-size:9.0pt">46</span></p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> </div> <span style="font-size:11.0pt;font-family:"Times New Roman","serif""><br clear="all" style="page-break-before:always"/></span> <div class="WordSection3"> <p class="Page1">A Bill for an Act to amend the law relating to superannuation, and for related purposes</p> <p class="MsoNormal" style="margin-top:12.0pt;line-height:normal"> <span style="font-size:16.0pt">The Parliament of Australia enacts:</span></p> <opc-section depth="0" ref="3129c06ecf5044d68438a6f208b96b7d" title="1  Short title"><a name="3129c06ecf5044d68438a6f208b96b7d"/><p class="ActHead5"><a name="_Toc517099523"><span class="CharSectno">1</span>  Short title</a></p> <p class="subsection">                    This Act is the <i>Treasury Laws Amendment (Protecting Your Superannuation Package) Act 2018</i>.</p> </opc-section><opc-section depth="0" ref="277ca785c7d44400b0f2b1febadd0e23" title="2  Commencement"><a name="277ca785c7d44400b0f2b1febadd0e23"/><p class="ActHead5"><a name="_Toc517099524"><span class="CharSectno">2</span>  Commencement</a></p> <p class="subsection">              (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.</p> <p class="Tabletext"> </p> <table class="MsoNormalTable" border="1" cellspacing="0" cellpadding="0" width="474" style="margin-left:5.35pt;border-collapse:collapse;border:none"> <thead> <tr> <td width="474" colspan="3" valign="top" style="width:355.55pt;border-top:solid windowtext 1.5pt; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Commencement information</p> </td> </tr> <tr> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Column 1</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom: solid windowtext 1.0pt;padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Column 2</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Column 3</p> </td> </tr> <tr> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Provisions</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom: solid windowtext 1.5pt;padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Commencement</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="TableHeading">Date/Details</p> </td> </tr> </thead> <tr> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">1.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">The day this Act receives the Royal Assent.</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext"> </p> </td> </tr> <tr> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">2.  Schedules 1, 2 and 3</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">The day after this Act receives the Royal Assent.</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext"> </p> </td> </tr> </table> <p class="notetext"> 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.</p> <p class="subsection">              (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.</p> </opc-section><opc-section depth="0" ref="2aacce33b63a4a6280b746cc0c43a148" title="3  Schedules"><a name="2aacce33b63a4a6280b746cc0c43a148"/><p class="ActHead5"><a name="_Toc517099525"><span class="CharSectno">3</span>  Schedules</a></p> <p class="subsection">                    Legislation 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.</p> </opc-section><?DMS-Include seriesId="b7402b27-3a3f-4df9-8f86-7a06f6531336"?><?DMS-Include seriesId="b6aeebbe-3d09-4dec-94be-72f7e2762164"?><?DMS-Include seriesId="e43db56d-da2a-4fb0-9b84-29736d234c42"?></div> </body> </div></div></body></html>