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Funds that are transferred from Eligible Rollover Funds (ERFs) to the Australian Taxation Office (ATO) are now required to be proactively reunited with a member’s superannuation account, or directly with the individual, where eligible, within 28 days.
The Morrison Government passed
the Treasury Laws Amendment (Reuniting More Superannuation) Act 2021 on 25 February to help reunite members with more of their lost super and to reduce the number of duplicate super accounts.
A joint announcement by the Treasurer Josh Frydenberg, and Minister for Financial Services, Superannuation, and the Digital Economy, Jane Hume, said the ERFs were intended to act as a temporary measure for members who lost their super accounts but that members’ money “languished” in ERFs for years.
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The federal government has announced that temporary changes to
continuous disclosure obligations imposed on listed companies under
the Corporations Act 2001 (Cth) (
Corporations Act)
will become permanent. The temporary changes were introduced in May
2020 as part of the government s response to the COVID-19
crisis, directed at assisting companies and directors during the
pandemic. Continuous disclosure refers to the legal
requirement of a company to immediately inform the market about
material information affecting the company, whether this
information is positive or negative.
What are the legislative changes?
The Commonwealth government has passed amendments to legislation about consumer guarantees. The changes add an express threshold about when a series of failures in a good or service.
By Justin Hendry on Feb 25, 2021 11:26AM
With Facebook, Google concessions.
Australia’s controversial media bargaining code has become law after the underpinning legislation passed through parliament with a raft of amendments favouring Big Tech companies.
The
Treasury Laws Amendment (News Media and Digital Platforms Mandatory Bargaining Code) Bill was signed off by the house of representative on Thursday after clearing the senate last night.
The code will force designated companies to
negotiate payments with news organisations, with a binding “final offer” arbitration process to be used if no agreement can be reached.
Google has already reached a number of deals with news organisations, including Nine, News Corp, Guardian Australian and Seven West Media.