Parliamentary committee examines tax bill
A Parliamentary Committee will examine the Government legislation aimed at making it easier for people to seek the consolidation of their superannuation accounts.
The House Economics Committee will inquire into and report on the Tax Laws Amendment (2011 Measures No. 9) Bill 2011 which, in part, is designed to enable certain fund members to electronically request the consolidation of their through the Australian Taxation Office, particularly with respect to lost accounts.
The legislation also makes technical changes to the way in which the capital gains tax applies to business restructures, and amends the Goods and Services Tax treatment of financial services.
The Chair of the Committee, Julie Owens, said that the committee would be examining the adequacy of the Bills in achieving the policy objective, and where possible identify any unintended consequences.
AUTHOR
Mike Taylor
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