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On 22 November 2012, Superannuation Legislation Amendment (New Zealand Arrangement) Bill 2012 was passed by the Senate without amendment.

The Bill amends the ITAA 1997, Superannuation (Government Co-contribution for Low Income Earners) Act 2003 and Taxation Administration Act 1953 to implement the Arrangement on Trans-Tasman Retirement Savings Portability to enable Australians and New Zealanders to transfer retirement savings between the two countries.

The Bill now awaits Royal Assent.

In media release No 2012/081, issued 22 November 2012, the Minister for Financial Services and Superannuation and Minister for Employment and Workplace Relations, Bill Shorten, commented on the passage of the Bill.


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