Reporting of event-based transfer balance account information in accordance with the Taxation Administration Act 1953 [F2017L01273]-Advice only [2017] AUSStaCSDLM 405 (15 November 2017)

---

Instrument	Reporting of event-based transfer balance account information in accordance with the Taxation Administration Act 1953 [F2017L01273]
Purpose	Sets out the timeframe for providing reporting of transaction data relating to members of superannuation funds and life insurance companies
Authorising legislation	Taxation Administration Act 1953
Portfolio	Treasury
Disallowance	15 sitting days after tabling (tabled Senate 16 October 2017) Notice of motion to disallow currently must be given by 7 December 2017
Scrutiny principle	Standing Order 23(3)(a)

Incorrect classification of legislative instrument as exempt from disallowance

The instrument is made under sections 390-5 and 390-20 of Schedule 1 to the Taxation Administration Act 1953. The instrument was incorrectly classified as exempt from disallowance when first received by Parliament and by the committee.

While the committee understands that the instrument was re-classified as disallowable prior to its tabling in Parliament, the committee remains concerned about the classification process generally, and the potential for classification errors to hinder the effective oversight of instruments by Parliament.

The committee will continue to monitor this issue.

The committee draws this matter to the attention of ministers, instrument-makers, and the Office of Parliamentary Counsel.