Commonwealth Consolidated Acts

SUPERANNUATION (UNCLAIMED MONEY AND LOST MEMBERS) CONSEQUENTIAL AND TRANSITIONAL ACT 1999 - SCHEDULE 1

Financial Transaction Reports Act 1988

1 Paragraph 18(4B)(c)

2 After paragraph 18(4B)(c)

(ca)

made in accordance with section 17 or 18 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 ; or

Income Tax Assessment Act 1936

3 Subsections 27A(3B) and (3C)

4 After subsection 27A(3C)

(3D)

To avoid doubt, a reference in the definition of relevant service period in subsection (1) to a period during which a taxpayer or fund member was a member of a superannuation fund does not include a reference to a period:

(a)

beginning when the trustee of the fund pays unclaimed money to the Commissioner or a State or Territory authority (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999 ) in accordance with that Act; and

(b)

ending when the Commissioner or the authority pays the unclaimed money to the taxpayer or fund member in accordance with that Act.

(3E)

To avoid doubt, a reference in the definition of relevant service period in subsection (1) to a period during which a taxpayer or depositor was a depositor with an approved deposit fund does not include a reference to a period:

(a)

beginning when the trustee of the fund pays unclaimed money to the Commissioner or a State or Territory authority (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999 ) in accordance with that Act; and

(b)

ending when the Commissioner or the authority pays the unclaimed money to the taxpayer or depositor in accordance with that Act.

5 Paragraph 27CC(a)

(a)

an amount is paid to the Commissioner or a State or Territory authority (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999 ) under that Act; and

Note: The heading to section 27CC of the Income Tax Assessment Act 1936 is altered by omitting " Insurance and Superannuation Commissioner " and substituting " Commissioner etc. ".

6 Section 27CC

7 Sub-subparagraph 140M(1)(a)(i)(B)

8 Subparagraph 202(i)(i)

9 After paragraph 202(i)

(ia)

to facilitate the administration of the Superannuation (Unclaimed Money and Lost Members) Act 1999 (including the administration of registers by State or Territory authorities (within the meaning of that Act) in accordance with section 18 of that Act); and

10 Subparagraph 202(k)(i)

11 Subsection 202DH(1)

Retirement Savings Accounts Act 1997

12 Subparagraph 3(1)(c)(ii)

(ii)

Part 7; and

13 Section 16 (definition of e ligibility age )

14 Section 16 (definition of unclaimed money )

15 Section 16

Superannuation Acts means:

(a)

this Act; and

(b)

the Superannuation Contributions Tax (Assessment and Collection) Act 1997 ; and

(c)

the Superannuation Contributions Tax (Members of Constitutionally Protected Funds) Assessment and Collection Act 1997 ; and

(d)

the Superannuation (Unclaimed Money and Lost Members) Act 1999 ; and

(e)

the Termination Payments Tax (Assessment and Collection) Act 1997 .

16 Part 8

17 Section 131

18 Paragraph 132(b)

19 Paragraph 133(1)(a)

20 Section 134

21 Subsection 135(1)

22 Paragraph 136(1)(b)

23 Paragraph 136(3)(b)

24 Subsection 137(1)

25 Paragraph 138(1)(b)

26 Section 139

27 Paragraph 139(b)

28 Paragraph 140(c)

29 Paragraph 141(a)

30 Paragraph 142(2)(a)

31 Paragraph 143(a)

32 Subsections 144(3) and (4)

33 Section 173 (paragraph (b) of the definition of modifiable provision )

34 Section 173 (paragraph (c) of the definition of modifiable provision )

35 Section 173 (paragraph (d) of the definition of modifiable provision )

Small Superannuation Accounts Act 1995

36 Section 75

37 Subsections 76(2) and (3)

Statement to be given to the Commissioner

(2)

As soon as practicable after the end of that period, the Commissioner must record information about the account.

Tax file number

(3)

If the individual's tax file number is known to the Commissioner, the record made for the purposes of subsection (2) must set out that tax file number.

38 Subsections 76(6), (7) and (8)

39 Section 77

Superannuation Act 1976

40 Subsection 155C(3) (after paragraph (c) of the definition of eligible regulatory law )

(ca)

the Superannuation (Unclaimed Money and Lost Members) Act 1999 ; or

41 Paragraph 158A(3)(b)

42 Paragraph 158A(3)(b)

Superannuation Act 1990

43 Subsection 49(3) (after paragraph (c) of the definition of eligible regulatory law )

(ca)

the Superannuation (Unclaimed Money and Lost Members) Act 1999 ; or

Superannuation Industry (Supervision) Act 1993

44 Subsection 2(3)

45 Section 4 (table row relating to Part 22)

46 Subparagraph 6(1)(c)(v)

47 Subsection 10(1) (definition of eligibility age )

48 Subsection 10(1) (definition of unclaimed money )

49 Part 22

50 Section 299A

51 Paragraph 299B(b)

52 Paragraph 299C(1)(a)

53 Section 299D

54 Subsection 299E(1)

55 Subsection 299G(1)

56 Paragraph 299G(3)(b)

57 Subsection 299H(1)

58 Subsection 299J(1)

59 Subsection 299K(1)

60 Subsection 299L(1)

61 Paragraph 299M(1)(b)

62 Paragraph 299N(1)(b)

63 Section 299P

64 Paragraph 299Q(c)

65 Paragraph 299R(1)(a)

66 Paragraph 299R(2)(a)

67 Paragraph 299S(2)(a)

68 Paragraph 299T(d)

69 Subsections 299U(4) and (5)

70 Section 299W

Superannuation Acts means the following:

(a)

this Act;

(b)

the Superannuation Contributions Tax (Assessment And Collection) Act 1997 ;

(c)

the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997 ;

(d)

the Superannuation (Unclaimed Money and Lost Members) Act 1999 ;

(e)

the Termination Payments Tax (Assessment and Collection) Act 1997 .

71 Subsection 299Z(2)

72 Subsection 299Z(3)

73 Section 327 (paragraph (b) of the definition of modifiable provision )

74 At the end of section 381

Note: Part 22 was repealed by the Superannuation (Unclaimed Money and Lost Members) Consequential and Transitional Act 1999 .

Taxation Administration Act 1953

75 Paragraph 8WA(1)(b)

76 Paragraphs 8WB(1)(d) and (e)

Superannuation (Unclaimed Money and Lost Members) Act 1999

1 Paragraph 31(1)(b)

(b)

a person engaged under the Public Service Act 1999 in the Agency (within the meaning of that Act) of which the Commissioner is the Agency Head; or

2 Section 45

Income Tax Assessment Act 1936

1 Paragraph 202(k) (second occurring)

Taxation Administration Act 1953

2 Paragraph 8WA(1)(b)

3 Paragraphs 8WB(1)(d) and (e)

Income Tax Assessment Act 1936

4 Paragraph 202(k)

Taxation Administration Act 1953

5 Paragraph 8WA(1)(a)

6 Paragraphs 8WB(1)(d) and (e)

(145/99)
Minister's second reading speech made in—
House of Representatives on 30 June 1999
Senate on 23 August 1999