Passed by the Lower House
The Superannuation Legislation Amendment (Stronger Super) Bill 2012 and Superannuation Supervisory Levy Imposition Amendment Bill 2012 were passed by the House of Reps on Mon 18.6.2012 without amendment and now move to the Senate. The Bills give effect to the Government’s SuperStream reforms to enhance the “back office” administration of superannuation.
[LTN 116, 19/6]
Passed by the Senate
The Superannuation Legislation Amendment (Stronger Super) Bill 2012 and Superannuation Supervisory Levy Imposition Amendment Bill 2012 effectively await Royal Assent after having been passed by the Senate on Tues 26.6.2012. They passed both Houses of Parliament without amendment.
The Bills give effect to the Government’s SuperStream reforms to enhance the “back office” administration of superannuation eg re data and payment standards, a new administrative penalty regime, and a new SuperStream supervisory levy to be levied on APRA-regulated superannuation funds from 1 July 2012 until 30 June 2018.
[LTN 121, 26/6]
Royal Assent
The Superannuation Legislation Amendment (Stronger Super) Bill 2012 and Superannuation Supervisory Levy Imposition Amendment Bill 2012 passed all stages without amendment and received Royal Assent on Thur 28.6.2012, as Act Nos 91 and 92, respectively, of 2012.
[LTN 124, 29/6]