Exposure Draft - Three Month Extension of the Temporary Loss Relief for Merging Superannuation Entities

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On 3 May 2011 the Assistant Treasurer and Minister for Financial Services and Superannuation announced that the Government would extend the temporary loss relief for superannuation funds that are currently in the process of merging, from 30 June 2011 to 30 September 2011.  This extension gives complex mergers in progress more time to complete and still be eligible for the loss relief.

The Government has developed draft legislation to implement this measure.  An exposure draft of the legislation and explanatory material are now available.

Making a submission

Interested parties are invited to comment on the exposure draft package. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Thursday, 11 August 2011

Address written submissions to:
The General Manager
Business Tax Division
The Treasury
Langton Crescent
PARKES ACT 2600

Fax: (02) 6263 4471

Email: cgt_super_roll-over@treasury.gov.au

For enquiries, please call Paul McMahon on (02) 6263 3385.

Documents Available:

 Acrobat (PDF)

 Microsoft Word (RTF)

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