Supplementary Explanatory Memorandum
Circulated by the authority of the Treasurer, the Hon Wayne Swan MPGeneral outline and financial impact
Temporary residents' unclaimed superannuation
Schedule 1 to this Bill requires superannuation providers to pay to the Commissioner of Taxation the unclaimed superannuation they hold for certain departed temporary residents by the due and payable date.
These amendments make changes to Schedule 1 to the Bill to allow regulations to be made to defer the due and payable date for a superannuation provider for such amounts in certain prescribed circumstances.
Proposal announced : These amendments have not previously been announced.
Financial impact : Not quantifiable. No material impact expected over the forward estimates.
Compliance cost impact : Negligible.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
