Bill
Social Services Legislation Amendment (Interest Charge) Bill 2016
lapsed, as at 2016-04-17. Social Services portfolio.
- Sponsor
- Not recorded
- Portfolio
- Social Services
Recorded stages
- introduced — 2016-03-02
- second reading — 2016-03-02
- second reading — 2016-03-17
- second reading — 2016-03-17
- third reading — 2016-03-17
- introduced — 2016-03-18
- second reading — 2016-03-18
- other — 2016-04-17
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2016-03-02.
This bill would impose an annual interest charge on unpaid debts of former welfare recipients who have not made acceptable repayment arrangements.
The charge would apply to debts from social security, family assistance, child care, paid parental leave, and student assistance payments.
The interest rate would be about nine per cent, based on the 90-day Bank Accepted Bill rate plus an extra seven per cent, and the measure is intended to start on 1 July 2016.
- Introduces a general interest charge for debts of former social security and family assistance recipients.
- Applies the charge to outstanding debts where the debtor has not entered into or complied with a repayment arrangement.
- Sets the interest rate at approximately nine per cent, using the same formula as the Australian Taxation Office under the Taxation Administration Act 1953.
Former recipients of social security, family assistance, paid parental leave, and student assistance payments who owe outstanding debts.
Sources
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