Taxation of Eligible Termination Payments (ETPs)
The Bills
Superannuation Contributions Surcharge (Assessment and Collection) Bill
Superannuation Contributions Surcharge (Consequential Amendments) Bill
Schedule 1 - Amendments to the Income Tax Assessment Act
Schedule 2 - Amendments to the Retirement Savings Accounts Act
Schedule 3 - Amendments to the Superannuation Industry (Supervision) Act
Schedule 4 - Amendments to the Superannuation (Resolution of Complaints) Act
Schedule 5 - Amendments to the Taxation (Interest on Overpayments and Early Payments) Act

Superannuation Contributions Surcharge Imposition Bill
Termination Payments Surcharge (Assessment and Collection) Bill

Part 1 - Preliminary details
Part 2 - Liability to surcharge
Part 3 - Assessment and collection of surcharge
Part 4 - Recovery of unpaid surcharge and advance instalments
Part 5 - Administration
Part 6 - Miscellaneous.

Termination Payments Surcharge Imposition Bill
Superannuation Contributions Surcharge (Application to the Commonwealth) Bill
Superannuation Contributions Surcharge (Application to the Commonwealth Reduction of Benefits) Bill

CHAPTER 3 CONSTITUTIONAL ISSUES

Possible Invalidity
Taxation on the Property of a State
Discrimination between the States
Remuneration of Federal Justices
Other Issues Relating to the Judiciary
Constitutional AuthorityAcquisition of Property

CHAPTER 4 THE PROPOSED COLLECTION MECHANISM

Issues in relation to the proposed collection mechanism
Complexity
Efficiency
Compliance costs of superannuation providers
Employers' costs
Superannuation providers' compliance costs - equity implications
Superannuation providers' compliance costs - liquidity implications
ATO's collection costs
The advance instalments system
Government position

CHAPTER 5 TARGETING AND EQUITY

Introduction
Tax File Number collection
Government and ATO initiatives to facilitate use of TFNs
Definition of assessable income
Government position on assessable income
Uneven income patterns
Other issues

Costs to non-target members
Effective tax rates

Alternative methods of addressing equity issues

CHAPTER 6 ALTERNATIVES TO THE PROPOSED COLLECTION MECHANISM

Alternative collection mechanisms
Government position

CHAPTER 7 REVENUE

Financial implications
Members who have retired since the surcharge announcement
Avoidance
Repackaging
Other issues

CHAPTER 8 PRIVACY

Overview
Another extension to the use of TFNs
Voluntary quotation principle

Opting in or out?
TFNs held by superannuation funds/employers
TFNs held by the ATO

Personal information not covered by privacy laws
Safeguards
Monitoring privacy compliance by the superannuation industry

CHAPTER 9 DEFINED BENEFITS SCHEMES AND ACTUARIAL STANDARDS

Introduction
Notional Employer Contributions
Commutation Rules
Particular Schemes

Military

Possible Alternatives
Government position

CHAPTER 10 CONCLUSIONS AND RECOMMENDATIONS

Government Senators' conclusions and recommendation
Non-Government Senators' conclusions and recommendations
That the surcharge is a tax
Eligible Termination Payments (ETPs)
Defined Benefits Schemes
Guidelines
The proposed collection mechanism and alternatives
Recommendations
Conclusion

Australian Democrat Senators' supplementary conclusions and recommendations

Appendix 1 - List of Written Submissions

Appendix 2 - List of Witnesses at Public Hearings

Appendix 3 - List of Committee Reports

TABLE OF CONTENTS

SUPERANNUATION SURCHARGE LEGISLATION

TABLE OF CONTENTS