Published on 01 Mar 99
by THE TAX INSTITUTE
The TIA is concerned that the scope for complexity and duplication in the
administration of superannuation funds covered by Superannuation Legislation
Amendment Bill (No.3) 1999 (SLAB No.3) will be further increased because
APRA and ASIC and now the ATO will all have powers under the SIS Act to
administer these funds.
2. In addition, multiple regulators administering the same legislation leads to the
possibility of different conclusions and interpretations on same legislation. For
example, there will be a need to co-ordinate the technical and administrative
consistency of taxation rulings being issued by the Commissioner of Taxation
and the content APRA circulars.
TAX POLICY & RESEARCH DIVISION
- Current at
19 November 2004