Regulation Impact Statement – Treasury
On 27 May 2015, the Treasurer introduced the Superannuation Guarantee (Administration) Amendment Bill 2015. The Bill contains two amendments to the employers’ choice of fund obligations that will reduce the compliance costs of the superannuation system on small businesses. Under these amendments, employers are no longer required to offer a choice of superannuation fund to:
- temporary resident employees; and
- all employees in circumstances when superannuation funds merge.
The amendments are part of a package that is expected to reduce the regulatory costs of the superannuation system on businesses by $46.4m per year. A Regulation Impact Statement (RIS) was prepared and certified by the Treasury under the Australian Government’s best practice regulation requirements, and has been assessed as compliant and consistent with best practice by the Office of Best Practice Regulation (OBPR).
- Reducing Superannuation Compliance Costs for Small Business – RIS [
119KB] - Reducing Superannuation Compliance Costs for Small Business – RIS [
256KB] - Reducing Superannuation Compliance Costs for Small Business – OBPR Assessment Advice [ 173KB]
- Reducing Superannuation Compliance Costs for Small Business – OBPR Assessment Advice [ 56KB]
- Reducing Superannuation Compliance Costs for Small Business – Deputy Secretary Certification Letter [ 130KB]
- Reducing Superannuation Compliance Costs for Small Business – Deputy Secretary Certification Letter [ 137KB]