26 Nov 12 NZ Super Bill awaits Royal Assent
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.