Summary
Part of a package of six bills in relation to reform of the superannuation system, the bill amends the
Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991
to repeal the current penalty for the late lodgment of a self-managed superannuation fund’s regulatory return, enabling a single annual return to be lodged covering both the supervisory levy and income tax liability.