The Coalition has also indicated it will oppose the Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Bill 2012 and the Superannuation Auditor Registration Imposition Bill 2012 if its proposed amendments are not passed.
Among other things, the Bills, which are still before the House of Reps, propose that:
- the temporary loss relief and asset roll-over in Div 310 of the ITAA 1997 will be re-instated (with some modifications) for APRA-regulated superannuation funds merging from 1 October 2011 and before 2 July 2017;
- ASIC will become the registration body for “approved SMSF auditors” from 31 January 2013.
[LTN 196, 10/10]
Passed House of Representatives without amendment
The Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Bill 2012 and Superannuation Auditor Registration Imposition Bill 2012 have passed the House of Reps without amendment and now move to the Senate.
[LTN 209, 29/10]