Bill
Superannuation Supervisory Levy Imposition Amendment Bill 2020
passed, as at 2020-06-19. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2020-05-13
- second reading — 2020-05-13
- second reading — 2020-06-11
- second reading — 2020-06-12
- second reading — 2020-06-12
- third reading — 2020-06-12
- introduced — 2020-06-12
- second reading — 2020-06-12
- second reading — 2020-06-18
- second reading — 2020-06-18
- third reading — 2020-06-18
- passed — 2020-06-18
- royal assent — 2020-06-19
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 2020-05-13.
This bill is part of a package that would let the Commonwealth recover costs for a broader set of activities it funds through the financial institution supervisory levy framework.
The package would increase the maximum levy amount that can be set under certain Acts to $10 million for the year starting 1 July 2020.
The bills would also allow the method for adjusting that maximum to use the latest available consumer price index figures.
- Expands the range of activities for which the Commonwealth can recover costs.
- Raises the statutory cap on certain levies to $10 million.
- Updates the indexation rule to reference recent CPI data.
Financial institutions subject to the supervisory levy framework.
Sources
em
billhome
frl act