On 27 August 2014, the Australian Treasury released exposure draft legislation: Treasury Legislation Amendment (Repeal Day) Bill 2014. The legislation consolidates and repeals various tax provisions by amending the law relating to taxation, superannuation, and shareholdings in financial sector companies.
The changes included in the draft legislation are summarized as follows:
- Repeal the employer requirement in the Superannuation Industry (Supervision) Act 1993 to report superannuation contr…