Federal Register of Legislation - Australian Government

Primary content

Regulations as made
This instrument amends the Retirement Savings Accounts Regulations 1997 and the Superannuation Industry (Supervision) Regulations 1994 in order to change the criteria for early release of superannuation that applies for certain skilled temporary visa holders.
Administered by: Treasury
Registered 30 Apr 2020
Tabling HistoryDate
Tabled HR12-May-2020
Tabled Senate12-May-2020
To be repealed 13 Aug 2020
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

Commonwealth Coat of Arms of Australia

 

Treasury Laws Amendment (Release of Superannuation on Compassionate Grounds) Regulations (No. 2) 2020

I, General the Honourable David Hurley AC DSC (Retd), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 30 April 2020

David Hurley

Governor‑General

By His Excellency’s Command

Josh Frydenberg

Treasurer

 

  

  


Contents

1............ Name............................................................................................................................. 1

2............ Commencement............................................................................................................. 1

3............ Authority....................................................................................................................... 1

4............ Schedules...................................................................................................................... 1

Schedule 1—Amendments                                                                                                                          2

Retirement Savings Accounts Regulations 1997                                                                             2

Superannuation Industry (Supervision) Regulations 1994                                                           2

 


1  Name

                   This instrument is the Treasury Laws Amendment (Release of Superannuation on Compassionate Grounds) Regulations (No. 2) 2020.

2  Commencement

             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this instrument

The day after this instrument is registered.

1 May 2020

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the following:

                     (a)  the Retirement Savings Accounts Act 1997;

                     (b)  the Superannuation Industry (Supervision) Act 1993.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1Amendments

  

Retirement Savings Accounts Regulations 1997

1  Paragraph 4.22B(1C)(b)

Repeal the paragraph, substitute:

                     (b)  in a case where paragraph (1B)(b) applies:

                              (i)  the person is employed; and

                             (ii)  the person is unable to meet his or her immediate living expenses; or

Superannuation Industry (Supervision) Regulations 1994

2  Paragraph 6.19B(1C)(b)

Repeal the paragraph, substitute:

                     (b)  in a case where paragraph (1B)(b) applies:

                              (i)  the person is employed; and

                             (ii)  the person is unable to meet his or her immediate living expenses; or