Explanatory Memorandum
(Circulated by authority of the Acting Minister for Revenue and Financial Services, Senator the Hon Mathias Cormann)Statement of Compatibility with Human Rights
Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011
Income tax relief for transfers within a fund to a MySuper product
2.51 This Schedule is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.
Overview
2.52 Schedule 2 to the Bill amends the ITAA 1997 to provide asset roll-over relief for mandatory transfers within a superannuation fund in the transition to a MySuper product.
Human rights implications
2.53 This Schedule does not engage any of the applicable rights or freedoms.
Conclusion
2.54 This Schedule is compatible with human rights as it does not raise any human rights issues.
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