Mr Taxman
Change the way you feel about taxes.
Get informed and discover what the taxman doesn't want you to know.
Sharing it with Australia, Mr Taxman is a regular Woman’s Day columist and TV finance commentator
  • click to visit Mr Taxman on Twitter
  • click to visit Mr Taxman on FaceBook
  • rss

Superannuation CGT & auditor bills passed

Dec 03, 2012

On 22 November 2012, Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Bill 2012 and the Superannuation Auditor Registration Imposition Bill 2012 were passed by the Senate without amendment.

Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Bill 2012 amends: 

  • the ITAA 1997 and Tax Laws Amendment (2009 Measures No 6) Act 2010 to reinstate the temporary loss relief for merging superannuation funds with certain modifications;
  • the Superannuation Industry (Supervision) Act 1993 and Taxation Administration Act 1953 to introduce a
    registration regime for auditors of self-managed superannuation funds;
  • the Taxation Administration Act 1953 to expand the information required to be reported by superannuation providers to the Commissioner of Taxation;
  • the Superannuation Industry (Supervision) Act 1993 and Retirement Savings Accounts Act 1997 to facilitate
    the electronic transmission of payments and associated information between certain funds, schemes and providers by providing for a register to be kept by the Commissioner of Taxation; and
  • five Acts to make technical amendments in relation to eligible superannuation entities.

Superannuation Auditor Registration Imposition Bill 2012 imposes fees on certain matters to recover the costs of establishing the self-managed superannuation fund auditor registration regime.

The Bills now await Royal Assent.

In media release No 2012/080, issued 22 November 2012, the Minister for Financial Services and Superannuation and
Minister for Employment and Workplace Relations, Bill Shorten, commented on the passage of the bills.

Tags: Chartered AccountantGSTPensionsSMSFSuper

Author: Mr Taxman

Comments

Post a New Comment

Media Availability

Are you interested in booking Mr Taxman for a speaking engagement or requesting his viewpoints for an article?

comments-rhsLatest Comments

  • "My boyfriend use to cheat on me with my sister. (yes, I know is hard, but I know I’m not the only one). I will be honest: I wanted revenge. And I got it. Now I’m stepping through a great year of our..."

    By: Saba Chaudhry at Jan 18, 2019 6:06AM

    Post: Marriage

  • "HOW I GOT MY HUSBAND BACK HOME WITH THE HELP OF A REAL AND GENUINE SPELL CASTER DR IFADE TEXT OR CONTACT VIA WHATSAPP +2349060120490. My name is KAYLEE TAYLOR am from united state, I almost took..."

    By: KAYLEE TAYLOR at Jan 18, 2019 12:33AM

    Post: Mr Taxman: Talking You Through Taxation

  • "HOW I GOT MY HUSBAND BACK HOME WITH THE HELP OF A REAL AND GENUINE SPELL CASTER DR IFADE TEXT OR CONTACT VIA WHATSAPP +2349060120490. My name is KAYLEE TAYLOR am from united state, I almost took..."

    By: KAYLEE TAYLOR at Jan 18, 2019 12:33AM

    Post: Mr Taxman: Talking You Through Taxation

  • "URGENT AND EFFECTIVE LOVE SPELL CASTER TO HELP YOU GET BACK YOUR EX LOVER VERY FAST 2018 Contact LORD OJOKA http://drojokaspelltemple.website2.me/love-spell WhatsApp @ +2348144172934 I am jessic..."

    By: jessica roma at Jan 17, 2019 5:42PM

    Post: Mr Taxman: Talking You Through Taxation

  • "URGENT AND EFFECTIVE LOVE SPELL CASTER TO HELP YOU GET BACK YOUR EX LOVER VERY FAST 2018 Contact LORD OJOKA http://drojokaspelltemple.website2.me/love-spell WhatsApp @ +2348144172934 I am jessic..."

    By: jessica roma at Jan 17, 2019 5:41PM

    Post: Mr Taxman: Talking You Through Taxation