House of Representatives

Social Security and Veterans' Entitlements Legislation Amendment (Miscellaneous Matters) Bill 2000

Explanatory Memorandum

(Circulated by authority of the Minister for Family and Community Services, Senator the Honourable Jocelyn Newman)

Financial impact

The financial impact of these measures is:

1. International Portability and related provisions

Schedule 1, Parts 1, 4 and 5 - Amendment of the Social Security Act 1991

Schedule 2, Parts 2 and 3 - Amendment of the Social Security (Administration) Act 1999

Schedule 3 - Amendment of the Veterans' Entitlements Act 1986

Schedule 6 - Amendment of the Health Insurance Act 1973

Schedule 8 - Amendment of the A New Tax System (Family Assistance) Act 1999

Schedule 1

Part 1 - international portability;
Part 4 - extension of the requirement to claim a comparable foreign payment; and
Part 5 - provisions relating to qualifying residence:

Schedule 2

Part 2 - extension of the requirement to claim a comparable foreign payment
Part 3 - international portability

Schedule 3 - standardised the rules for the payment of social security benefits outside Australia ( Veterans' Entitlements Act 1986)

Schedule 6 - consequential amendment relating to qualifying residence (Health Insurance Act 1973)

Schedule 8 - consequential amendments as a result of the international portability provisions of the Social Security Act 1991 made by Schedule 1, to ensure consistent portability arrangements apply in relation to non-residents.

Date of Effect of all the above measures: 20 September 2000

Financial Impact of all the above measures:

2000-2001 $4.9m (administrative savings)
2001-2002 $10.4m (administrative savings)
2002-2003 $10.7m (administrative savings)

2. Amendments to the pension bonus provisions (Schedule 1, Part 2), and amendments to the provisions relating to retirement assistance for farmers (Schedule 1, Part 3)

Date of Effect: Part 2 and Part 3 of Schedule 1 commence, or are taken to have commenced, immediately after the commencement of Schedule 1 to the A New Tax System (Compensation Measures Legislation Amendment) Act 1999 .

Financial Impact: There are no financial implications from these changes as the effect of the changes was anticipated in calculating the financial implications for the total compensation package implemented by the A New Tax System (Compensation Measures Legislation Amendment) Act 1999 .

3. Schedules 2, 4 and 5 - Amendment of the Social Security (Administration) Act 1999, the Income Tax Assessment Act 1936 and the Taxation Administration Act 1953

Amendments to authorise the use of tax file numbers for data matching purposes.

Date of Effect: 1 July 2000

Financial Impact:

(net outlays) 2000-2001 $20.6m (savings)
2001-2002 $29.7m (savings)
2002-2003 $30.4m (savings)

4. Schedule 7 - Amendment of the Social Security (Administration and International Agreements) (Consequential Amendments) Act 1999; Schedule 9 - Amendment of the Social Security (International Agreements) Act 1999; Schedule 10 - Amendment of the Further 1998 Budget Measures Legislation Amendment (Social Security) Act 1999

Financial Impact: There are no financial implications arising from these technical amendments.


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