The Government on Tue 14.2.2012, released Exposure Draft – Superannuation Legislation Amendment (Stronger Super and Other Measures) Bill 2012 proposing to permit the Tax Office to disclose an individual’s superannuation details.
The Draft Bill will amend s 355-65 in Sch 1 to the TAA to permit the Tax Office to disclose details of an individual’s superannuation interests and superannuation benefits to a regulated superannuation fund, or public sector superannuation scheme, an ADF, RSA provider or their administrators. This will enable the Tax Office to provide information to the administrators that will allow them to access information about a member’s superannuation interests, including amounts held by the Tax Office. The measures seek to enable funds to assist their members to find and consolidate their superannuation interests.
Date of Effect: The measure is proposed to commence on Royal Assent.
Comments: are due by 20 February 2012.
[LTN 30, 15/2]