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This is a Bill, not an Act. For current law, see the Acts databases.
2019
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Treasury Laws Amendment (2019
Measures No. 2) Bill 2019
No. , 2019
(Treasury)
A Bill for an Act to amend the law relating to
taxation, competition, energy and superannuation,
and for related purposes
No. , 2019
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
Schedule 1--Genuine redundancy payments and early
retirement scheme payments alignment with
pension age
4
Part 1--Genuine redundancy payments and early retirement
scheme payments amendments
4
Income Tax Assessment Act 1997
4
Part 2--Technical amendments
5
Income Tax Assessment Act 1997
5
Schedule 2--Luxury car tax refund entitlements
7
A New Tax System (Luxury Car Tax) Act 1999
7
Schedule 3--Australian Energy Regulator
8
Part 1--Amendments
8
Competition and Consumer Act 2010
8
Part 2--Transitional provisions
17
Schedule 4--Consumer Data Right--Deletion requests
18
Competition and Consumer Act 2010
18
Schedule 5--Interest on superannuation payments made by the
Commissioner of Taxation
20
Superannuation (Unclaimed Money and Lost Members) Act 1999
20
Superannuation (Unclaimed Money and Lost Members)
Regulations 1999
20
No. , 2019
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
1
A Bill for an Act to amend the law relating to
1
taxation, competition, energy and superannuation,
2
and for related purposes
3
The Parliament of Australia enacts:
4
1 Short title
5
This Act is the Treasury Laws Amendment (2019 Measures No. 2)
6
Act 2019.
7
2 Commencement
8
(1) Each provision of this Act specified in column 1 of the table
9
commences, or is taken to have commenced, in accordance with
10
column 2 of the table. Any other statement in column 2 has effect
11
according to its terms.
12
13
2
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
No. , 2019
Commencement information
Column 1
Column 2
Column 3
Provisions
Commencement
Date/Details
1. Sections 1 to 3
and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Schedule 1
The day after this Act receives the Royal
Assent.
3. Schedule 2
The first 1 January, 1 April, 1 July or
1 October to occur after the day this Act
receives the Royal Assent.
4. Schedule 3
A single day to be fixed by Proclamation.
However, if the provisions 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.
5. Schedules 4
and 5
The day after this Act receives the Royal
Assent.
Note:
This table relates only to the provisions of this Act as originally
1
enacted. It will not be amended to deal with any later amendments of
2
this Act.
3
(2) Any information in column 3 of the table is not part of this Act.
4
Information may be inserted in this column, or information in it
5
may be edited, in any published version of this Act.
6
3 Schedules
7
Legislation that is specified in a Schedule to this Act is amended or
8
repealed as set out in the applicable items in the Schedule
9
concerned, and any other item in a Schedule to this Act has effect
10
according to its terms.
11
Note:
The provisions of the Superannuation (Unclaimed Money and Lost
12
Members) Regulations 1999 amended or inserted by this Act, and any
13
other provisions of that instrument, may be amended or repealed by
14
regulations made under any of the following provisions of the
15
Superannuation (Unclaimed Money and Lost Members) Act 1999:
16
(a) subsections 17(2AB) and (2AC);
17
No. , 2019
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
3
(b) subsection 20H(2AA);
1
(c) subsections 20QF(5) and (6);
2
(d) subsections 24G(3A) and (3B);
3
(e) subsection 24NA(4).
4
(See subsection 13(5) of the Legislation Act 2003.)
5
Schedule 1 Genuine redundancy payments and early retirement scheme payments
alignment with pension age
Part 1 Genuine redundancy payments and early retirement scheme payments
amendments
4
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
No. , 2019
Schedule 1--Genuine redundancy payments
1
and early retirement scheme payments
2
alignment with pension age
3
Part 1--Genuine redundancy payments and early
4
retirement scheme payments amendments
5
Income Tax Assessment Act 1997
6
1 Subparagraph 83-175(2)(a)(i)
7
Omit "he or she turned 65", substitute "the employee reached
*
pension
8
age".
9
2 Subparagraph 83-180(2)(a)(i)
10
Omit "he or she turned 65", substitute "the employee reached
*
pension
11
age".
12
3 Application
13
The amendments made by this Part apply to payments received by
14
employees who are dismissed or retire on or after 1 July 2019.
15
Genuine redundancy payments and early retirement scheme payments alignment with
pension age Schedule 1
Technical amendments Part 2
No. , 2019
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
5
Part 2--Technical amendments
1
Income Tax Assessment Act 1997
2
4 Subsection 52-25(3) (method statement, step 1,
3
paragraph (b))
4
Omit "pension age", substitute "
*
pension age".
5
5 Subsection 52-30(3) (method statement, step 1,
6
paragraph (b))
7
Omit "pension age", substitute "
*
pension age".
8
6 Subsection 52-35(3) (method statement, step 1,
9
paragraph (b))
10
Omit "pension age", substitute "
*
pension age".
11
7 After subsection 52-65(2)
12
Insert:
13
Note:
Pension age has the meaning given by subsection 23(1) of the Social
14
Security Act 1991: see subsection 995-1(1).
15
8 Subsection 52-65(3)
16
Repeal the subsection.
17
9 After subsection 52-105(5)
18
Insert:
19
Note:
Pension age has the meaning given by subsection 23(1) of the Social
20
Security Act 1991: see subsection 995-1(1).
21
10 Subsection 52-105(6)
22
Repeal the subsection.
23
11 Subsection 995-1(1) (definition of pension age)
24
Repeal the definition, substitute:
25
pension age has the meaning given by subsection 23(1) of the
26
Social Security Act 1991.
27
Schedule 1 Genuine redundancy payments and early retirement scheme payments
alignment with pension age
Part 2 Technical amendments
6
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
No. , 2019
Note:
In Subdivision 52-E, pension age has the meaning given by
1
subsection 52-131(9).
2
Luxury car tax refund entitlements Schedule 2
No. , 2019
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
7
Schedule 2--Luxury car tax refund
1
entitlements
2
3
A New Tax System (Luxury Car Tax) Act 1999
4
1 Subsection 18-5(3)
5
Repeal the subsection, substitute:
6
(3) The amount of the refund for a refund entitlement under
7
subsection (2) is the lesser of:
8
(a) the amount of the luxury car tax described in
9
paragraph (2)(a); and
10
(b) $10,000.
11
2 Subsection 18-10(3)
12
Repeal the subsection, substitute:
13
(3) The amount of the refund for a refund entitlement under
14
subsection (2) is the lesser of:
15
(a) the amount of the luxury car tax described in
16
paragraph (2)(a); and
17
(b) $10,000.
18
3 Application
19
The amendments made by this Schedule apply to refund-eligible cars
20
supplied or imported on or after 1 July 2019.
21
Schedule 3 Australian Energy Regulator
Part 1 Amendments
8
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
No. , 2019
Schedule 3--Australian Energy Regulator
1
Part 1--Amendments
2
Competition and Consumer Act 2010
3
1 Subsection 4(1)
4
Insert:
5
Commonwealth AER member means an AER member referred to
6
in section 44AM.
7
2 Subsection 7(2) (note)
8
Repeal the note.
9
3 Section 8AB (heading)
10
Omit "State/Territory".
11
4 Subsection 8AB(1)
12
Omit "a State/Territory AER member", substitute "an AER member".
13
5 Subsection 8AB(1) (note)
14
Omit "A State/Territory AER member", substitute "An AER member".
15
6 Subsection 8AB(2)
16
Omit "a State/Territory AER member", substitute "an AER member".
17
7 Subsection 8AB(3)
18
Omit "State/Territory".
19
8 Subsection 8AB(3)
20
After "section", insert "44AM or".
21
9 Section 44AB (definition of Commonwealth AER member)
22
Repeal the definition.
23
Australian Energy Regulator Schedule 3
Amendments Part 1
No. , 2019
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
9
10 Paragraph 44AG(a)
1
Omit "a Commonwealth AER member", substitute "2 Commonwealth
2
AER members".
3
11 Paragraph 44AG(b)
4
Omit "2", substitute "3".
5
12 Section 44AM (heading)
6
Omit "member", substitute "members".
7
13 Subsection 44AM(1)
8
Omit "instrument", substitute "instrument, on either a full-time or
9
part-time basis".
10
14 At the end of subsection 44AM(1)
11
Add:
12
Note:
A Commonwealth AER member is also taken to be an associate
13
member of the Commission: see section 8AB.
14
15 Subsection 44AM(2)
15
Omit "The Commonwealth AER member", substitute "A
16
Commonwealth AER member".
17
16 Subsections 44AM(3) and (4)
18
Repeal the subsections, substitute:
19
(3) A person is not eligible for appointment as a Commonwealth AER
20
member unless the person has knowledge of, or experience in,
21
industry, commerce, economics, law, consumer protection or
22
public administration.
23
17 Section 44AN
24
Repeal the section.
25
18 Section 44AO
26
Repeal the section, substitute:
27
Schedule 3 Australian Energy Regulator
Part 1 Amendments
10
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
No. , 2019
44AO Acting appointment of Commonwealth AER member
1
(1) The Minister may, by written instrument, appoint a person to act as
2
a Commonwealth AER member:
3
(a) during a vacancy in the office of Commonwealth AER
4
member, whether or not an appointment has previously been
5
made to the office; or
6
(b) during any period, or during all periods, when the
7
Commonwealth AER member:
8
(i) is absent from duty or from Australia; or
9
(ii) is, for any reason, unable to perform the duties of the
10
office.
11
Note:
For rules that apply to acting appointments, see sections 33AB and
12
33A of the Acts Interpretation Act 1901.
13
(2) A person is not eligible for appointment to act as a Commonwealth
14
AER member unless the person has knowledge of, or experience
15
in, industry, commerce, economics, law, consumer protection or
16
public administration.
17
19 Subsection 44AP(3)
18
Omit all the words after "unless", substitute "the person has knowledge
19
of, or experience in, industry, commerce, economics, law, consumer
20
protection or public administration".
21
20 Section 44AQ
22
Repeal the section, substitute:
23
44AQ Acting appointment of State/Territory AER member
24
(1) The Minister may, by written instrument, appoint a person to act as
25
a State/Territory AER member:
26
(a) during a vacancy in the office of State/Territory AER
27
member, whether or not an appointment has previously been
28
made to the office; or
29
(b) during any period, or during all periods, when the
30
State/Territory AER member:
31
(i) is absent from duty or from Australia; or
32
(ii) is, for any reason, unable to perform the duties of the
33
office.
34
Australian Energy Regulator Schedule 3
Amendments Part 1
No. , 2019
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
11
Note:
For rules that apply to acting appointments, see sections 33AB and
1
33A of the Acts Interpretation Act 1901.
2
(2) A person is not eligible for appointment to act as a State/Territory
3
AER member unless the person has knowledge of, or experience
4
in, industry, commerce, economics, law, consumer protection or
5
public administration.
6
21 Subsection 44AR(2)
7
Repeal the subsection, substitute:
8
(2) A person is not eligible for appointment as the AER Chair unless
9
the person is a full-time AER member.
10
22 After section 44AR
11
Insert:
12
44ARA AER Deputy Chair
13
(1) One of the AER members is to be appointed by the
14
Governor-General as the AER Deputy Chair, by written
15
instrument. The appointment as AER Deputy Chair may be made
16
at the same time as the appointment as AER member, or at a later
17
time.
18
(2) A person is not eligible for appointment as the AER Deputy Chair
19
unless the person is a full-time AER member.
20
(3) The AER Deputy Chair holds office for the period specified in the
21
instrument of appointment. The period must not exceed 5 years.
22
(4) If a person who is the AER Deputy Chair ceases to be an AER
23
member, then the person also ceases to be the AER Deputy Chair.
24
Note:
A person may cease to be the AER Deputy Chair without ceasing to
25
be an AER member.
26
44ARB AER Deputy Chair to act as the AER Chair
27
The AER Deputy Chair is to act as the AER Chair:
28
(a) during a vacancy in the office of the AER Chair, whether or
29
not an appointment has previously been made to the office;
30
or
31
(b) during all periods when the AER Chair:
32
Schedule 3 Australian Energy Regulator
Part 1 Amendments
12
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
No. , 2019
(i) is absent from duty or from Australia; or
1
(ii) is, for any reason, unable to perform the duties of the
2
office.
3
Note:
See also subsection 33A(2) of the Acts Interpretation Act 1901.
4
23 Section 44AS
5
Repeal the section, substitute:
6
44AS Acting AER Deputy Chair
7
(1) The Minister may, by written instrument, appoint an AER member
8
to act as the AER Deputy Chair:
9
(a) during a vacancy in the office of the AER Deputy Chair,
10
whether or not an appointment has previously been made to
11
the office; or
12
(b) during any period, or during all periods, when the AER
13
Deputy Chair:
14
(i) is absent from duty or from Australia; or
15
(ii) is, for any reason, unable to perform the duties of the
16
office.
17
Note:
For rules that apply to acting appointments, see sections 33AB and
18
33A of the Acts Interpretation Act 1901.
19
(2) If a person acting as the AER Deputy Chair ceases to be an AER
20
member, then the appointment to act as the AER Deputy Chair also
21
ceases.
22
24 Subsections 44AT(1) and (2)
23
Omit "(other than the Commonwealth AER member)".
24
25 Subsection 44AT(4)
25
Repeal the subsection (including the note).
26
26 Subsections 44AU(1) and (2)
27
Omit "(whether or not the Commonwealth AER member)".
28
27 At the end of section 44AZ
29
Add:
30
Australian Energy Regulator Schedule 3
Amendments Part 1
No. , 2019
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
13
(3) A person who is the AER Deputy Chair may resign the person's
1
appointment as AER Deputy Chair by giving the
2
Governor-General a written resignation. The resignation does not
3
affect the person's appointment as an AER member.
4
28 Subsection 44AAD(3)
5
Repeal the subsection, substitute:
6
(3) At a meeting of the AER, 3 AER members constitute a quorum.
7
The quorum must include the AER Chair.
8
29 Subsection 44AAD(4)
9
Omit "unanimous vote", substitute "a majority of the votes".
10
30 After subsection 44AAD(4)
11
Insert:
12
(4A) The AER Chair has a deliberative vote and, in the event of an
13
equality of votes, also has a casting vote.
14
31 Subsection 44AAE(1)
15
Omit "3".
16
32 After Subdivision C of Division 4 of Part IIIAA
17
Insert:
18
Subdivision CA--Divisions of the AER
19
44AAEB Divisions of the AER--functions and powers under a law
20
of the Commonwealth
21
Directions
22
(1) The AER Chair may, by writing, direct that all or any of the AER's
23
functions and powers:
24
(a) under this Part or under regulations made under this Act; or
25
(b) under another law of the Commonwealth;
26
in relation to a matter are to be performed and exercised by a
27
Division of the AER constituted by the AER Chair and at least 2
28
other AER members, as specified in the direction.
29
Schedule 3 Australian Energy Regulator
Part 1 Amendments
14
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
No. , 2019
(2) If a direction under subsection (1) is in force in relation to a matter,
1
the Division of the AER specified in the direction may make
2
recommendations to the AER in relation to the matter.
3
(3) If a direction under subsection (1) is in force in relation to a matter,
4
the AER Chair may, by writing, at any time before the Division of
5
the AER specified in the direction has made a determination in
6
relation to the matter:
7
(a) revoke the direction; or
8
(b) amend the direction in relation to the membership of the
9
Division or in any other respect.
10
If the membership of a Division of the AER is changed, the
11
Division as constituted after the change may complete the
12
determination of the matter.
13
The AER is taken to consist of the Division
14
(4) For the purposes of the determination of a matter specified in a
15
direction given under subsection (1), the AER is taken to consist of
16
the Division of the AER specified in the direction.
17
Meetings
18
(5) The AER Chair is not required to attend a meeting of a Division of
19
the AER if the AER Chair does not think fit to do so.
20
(6) The AER Deputy Chair is not required to attend a meeting of a
21
Division of the AER if the AER Deputy Chair does not think fit to
22
do so.
23
(7) At a meeting of a Division of the AER at which neither the AER
24
Chair nor the AER Deputy Chair is presiding, an AER member
25
nominated for the purpose by the AER Chair is to preside.
26
(8) Despite section 44AAD, at a meeting of a Division of the AER, 2
27
AER members form a quorum. The quorum need not include the
28
AER Chair or AER Deputy Chair.
29
Functions and powers of the AER
30
(9) A Division of the AER specified under subsection (1) may perform
31
the functions and exercise the powers of the AER mentioned in
32
that subsection despite the fact that another Division of the AER is
33
Australian Energy Regulator Schedule 3
Amendments Part 1
No. , 2019
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
15
performing those functions and exercising those powers at the
1
same time.
2
44AAEC Divisions of the AER--functions and powers under a
3
State/Territory energy law or a local energy instrument
4
Directions
5
(1) The AER Chair may, by writing, direct that all or any of the AER's
6
functions and powers:
7
(a) under a State/Territory energy law; or
8
(b) under a local energy instrument;
9
in relation to a matter are to be performed and exercised by a
10
Division of the AER constituted by the AER Chair and at least 2
11
other AER members, as specified in the direction.
12
(2) If a direction under subsection (1) is in force in relation to a matter,
13
the Division of the AER specified in the direction may make
14
recommendations to the AER in relation to the matter.
15
(3) If a direction under subsection (1) is in force in relation to a matter,
16
the AER Chair may, by writing, at any time before the Division of
17
the AER specified in the direction has made a determination in
18
relation to the matter:
19
(a) revoke the direction; or
20
(b) amend the direction in relation to the membership of the
21
Division or in any other respect.
22
If the membership of a Division of the AER is changed, the
23
Division as constituted after the change may complete the
24
determination of the matter.
25
The AER is taken to consist of the Division
26
(4) For the purposes of the determination of a matter specified in a
27
direction given under subsection (1), the AER is taken to consist of
28
the Division of the AER specified in the direction.
29
Meetings
30
(5) The AER Chair is not required to attend a meeting of a Division of
31
the AER if the AER Chair does not think fit to do so.
32
Schedule 3 Australian Energy Regulator
Part 1 Amendments
16
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
No. , 2019
(6) The AER Deputy Chair is not required to attend a meeting of a
1
Division of the AER if the AER Deputy Chair does not think fit to
2
do so.
3
(7) At a meeting of a Division of the AER at which neither the AER
4
Chair nor the AER Deputy Chair is presiding, an AER member
5
nominated for the purpose by the AER Chair is to preside.
6
(8) Despite section 44AAD, at a meeting of a Division of the AER, 2
7
AER members form a quorum. The quorum need not include the
8
AER Chair or AER Deputy Chair.
9
Functions and powers of the AER
10
(9) A Division of the AER specified under subsection (1) may perform
11
the functions and exercise the powers of the AER mentioned in
12
that subsection despite the fact that another Division of the AER is
13
performing those functions and exercising those powers at the
14
same time.
15
Application
16
(10) This section does not apply to a State/Territory energy law unless a
17
provision of:
18
(a) the State/Territory energy law; or
19
(b) another law of the State or Territory concerned;
20
provides that this section extends to, and has effect for the purposes
21
of, the State/Territory energy law.
22
(11) This section does not apply to a local energy instrument unless a
23
provision of:
24
(a) the local energy instrument; or
25
(b) the State/Territory energy law of the State or Territory
26
concerned; or
27
(c) another law of the State or Territory concerned;
28
provides that this section extends to, and has effect for the purposes
29
of, the local energy instrument.
30
33 Paragraph 155(1)(c)
31
After "Commission,", insert "or before an associate member of the
32
Commission who is an AER member and who is specified in the
33
notice,".
34
Australian Energy Regulator Schedule 3
Transitional provisions Part 2
No. , 2019
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
17
Part 2--Transitional provisions
1
34 Continuity of appointments
2
(1)
If a person held the office of Commonwealth AER member
3
immediately before the commencement of this item, the amendments of
4
section 44AM of the Competition and Consumer Act 2010 made by this
5
Schedule do not affect the continuity of the person's appointment.
6
(2)
If a person held the office of State/Territory AER member immediately
7
before the commencement of this item, the amendment of section 44AP
8
of the Competition and Consumer Act 2010 made by this Schedule does
9
not affect the continuity of the person's appointment.
10
(3)
If a person held the office of AER Chair immediately before the
11
commencement of this item, the amendment of section 44AR of the
12
Competition and Consumer Act 2010 made by this Schedule does not
13
affect the continuity of the person's appointment.
14
35 Acting appointments
15
(1)
If, immediately before the commencement of this item, an appointment
16
under section 44AO of the Competition and Consumer Act 2010 was in
17
force, the appointment has effect after that commencement as if it had
18
been made by the Minister under section 44AO of that Act as amended
19
by this Schedule.
20
(2)
If, immediately before the commencement of this item, an appointment
21
under section 44AQ of the Competition and Consumer Act 2010 was in
22
force, the appointment has effect after that commencement as if it had
23
been made under section 44AQ of that Act as amended by this
24
Schedule.
25
Schedule 4 Consumer Data Right--Deletion requests
18
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
No. , 2019
Schedule 4--Consumer Data Right--Deletion
1
requests
2
3
Competition and Consumer Act 2010
4
1 After section 56BA
5
Insert:
6
56BAA Rules must include requirement to delete CDR data on
7
request from CDR consumer
8
Requirement to delete CDR data in response to request from CDR
9
consumer
10
(1) The consumer data rules must include a requirement on an
11
accredited data recipient of CDR data to delete all or part of the
12
CDR data in response to a valid request by a CDR consumer for
13
the CDR data to be deleted.
14
(2) However, a rule described in subsection (1) must not require
15
deletion of all or part of the CDR Data if:
16
(a) the accredited data recipient is required to retain the CDR
17
data by or under an Australian law or a court/tribunal order;
18
or
19
(b) the CDR data relates to any current or anticipated:
20
(i) legal proceedings; or
21
(ii) dispute resolution proceedings;
22
to which the accredited data recipient is a party; or
23
(c) the CDR data relates to any current or anticipated:
24
(i) legal proceedings; or
25
(ii) dispute resolution proceedings;
26
to which the CDR consumer is a party.
27
Consumer data rules may include rules in relation to the
28
requirement
29
(3) The consumer data rules may include the following rules in
30
relation to the requirement:
31
Consumer Data Right--Deletion requests Schedule 4
No. , 2019
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
19
(a) rules about:
1
(i) how the CDR consumer may make a valid request; and
2
(ii) what must be included in a request for it to be valid and
3
when a request ceases to be a valid request;
4
(b) rules specifying circumstances (in addition to those in
5
subsection (2)) in which the accredited data recipient may
6
refuse to delete the CDR data despite the requirement;
7
(c) rules about how an accredited data recipient is to delete the
8
CDR data covered in a valid request;
9
(d) rules about how the requirement is to be complied with
10
depending on the class of CDR data requested to be deleted;
11
(e) rules about how an accredited data recipient is to notify the
12
CDR consumer of:
13
(i) the deletion of the CDR data and the extent of the
14
deletion; or
15
(ii) if the CDR data is not deleted--the reasons the deletion
16
did not occur;
17
(f) rules about any other matters incidental or related to the
18
requirement (see also section 56BJ).
19
(4) This section applies despite any other provision of this Division.
20
(5) This section does not limit the consumer data rules dealing with the
21
deletion of CDR data in circumstances other than compliance with
22
the requirement.
23
2 At the end of subsection 56BC(3)
24
Add:
25
Note 3:
The rules must include a requirement on an accredited data recipient
26
to delete all or part of the CDR data in response to a valid request by a
27
CDR consumer for the CDR data (see section 56BAA).
28
3 Section 56BJ
29
After "paragraph", insert "56BAA(3)(f) or".
30
Schedule 5 Interest on superannuation payments made by the Commissioner of
Taxation
20
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
No. , 2019
Schedule 5--Interest on superannuation
1
payments made by the Commissioner
2
of Taxation
3
4
Superannuation (Unclaimed Money and Lost Members) Act
5
1999
6
1 At the end of section 24NA
7
Add:
8
(4) If the Commissioner makes a payment to a fund under
9
subsection (2) or regulations made for the purposes of
10
subsection (3), the Commissioner must also pay to the fund the
11
amount of interest (if any) worked out in accordance with the
12
regulations.
13
Note:
Money for payments under this section is appropriated by section 16
14
of the Taxation Administration Act 1953.
15
(5) Regulations made for the purposes of subsection (4) may prescribe
16
different rates for different periods over which the interest accrues.
17
For this purpose, rate includes a nil rate.
18
2 Paragraph 24NB(1)(a)
19
After "subsection 24NA(2)", insert ", subsection 24NA(4)".
20
Superannuation (Unclaimed Money and Lost Members)
21
Regulations 1999
22
3 Subregulation 4E(2) (note 2)
23
After "20H", insert ", 20QD".
24
4 Paragraph 4E(3)(a)
25
After "20K", insert ", 20QJ".
26
5 After paragraph 4F(1)(b)
27
Insert:
28
(ba) subsections 20QF(5) and (6);
29
Interest on superannuation payments made by the Commissioner of Taxation Schedule
5
No. , 2019
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
21
6 At the end of subregulation 4F(1)
1
Add:
2
; (d) subsection 24NA(4).
3
7 Paragraph 4F(2)(a)
4
After "section 20F", insert ", 20QD".
5
8 Paragraph 4F(2)(b)
6
Omit "or 24G(2)", substitute ", 20QF(2), 24G(2), 24NA(2) or
7
24NA(3)".
8
9 Paragraph 4F(3)(a)
9
After "20K", insert ", 20QJ".
10
10 Subregulation 4F(4)
11
After "The interest", insert "on the unclaimed amount paid by the
12
Commissioner under subsection 17(2), 20H(2), 20QF(2) or 24G(2) of
13
the Act".
14
11 Subparagraph 4F(4)(a)(ii)
15
After "20F", insert ", 20QD".
16
12 Paragraph 4F(4)(b)
17
After "20H(2)", insert ", 20QF(2)".
18
13 After subregulation 4F(4)
19
Insert:
20
(4A) The interest on the unclaimed amount paid by the Commissioner
21
under subsection 24NA(2) or (3) of the Act is to be worked out for
22
the period (the interest period) that:
23
(a) starts on the later of:
24
(i) 1 July 2013; and
25
(ii) the day when the superannuation provider was required
26
to pay the unclaimed amount to the Commissioner
27
under subsection 17(1), section 20QD or section 24E of
28
the Act; and
29
(iii) the day when the superannuation provider was required
30
to pay the unclaimed amount to the Commissioner in
31
Schedule 5 Interest on superannuation payments made by the Commissioner of
Taxation
22
Treasury Laws Amendment (2019 Measures No. 2) Bill 2019
No. , 2019
accordance with a notice under subsection 255-10(2) of
1
Schedule 1 to the Taxation Administration Act 1953;
2
and
3
(b) ends on the third day after the Commissioner last authorised
4
the unclaimed amount to be paid under subsection 24NA(2)
5
or (3) of the Act.
6