Supplementary Explanatory Memorandum
(Circulated by authority of the Assistant Treasurer, the Hon Stuart Robert MP)Chapter 4 Statement of Compatibility with Human Rights
Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011
Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018
4.1 The Amendments to the Bill are compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.
Overview
4.2 The Amendments to the Bill do the following:
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- amends Schedule 2 to the Bill to allow trustees to provide opt out insurance to new members aged under 25 years and new members with balances below $6,000 where the member is engaged in a dangerous occupation;
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- amends Schedule 3 to the Bill requiring the Commissioner of Taxation to use all best endeavours to unite inactive account balances transferred to the ATO with an active superannuation account of the member within 28 days; and
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- makes two technical corrections to Schedule 1 and Schedule 3 to the Bill.
Human rights implications
4.3 These Amendments are compatible with human rights as they do not raise any human rights issues.
Conclusion
4.4 These Amendments are compatible with human rights as they do not raise any human rights issues.