Sue Lines (President) Share this | Hansard source

I will now deal with the remaining Australian Greens amendments. The question is that the amendments on sheet 3702 and 3734 be agreed to.

Australian Greens' circulated amendments

SHEET 3702

(1) Clause 2, page 2 (table item 4), omit "Schedule 3", substitute "Schedules 3 and 4".

(2) Page 23 (after line 31), at the end of the Bill, add:

Schedule 4 — Time limit on debt recovery

Part 1 — Amendments

A New Tax System (Family Assistance) (Administration) Act 1999

1 Section 93B

Repeal the section, substitute:

93B Time limit on debt recovery

For the purposes of this Part, legal proceedings, or any action under a provision of this Part, for the recovery of a debt may not be commenced after the period of 6 years starting on the day that the circumstances that gave rise to the debt first existed.

Paid Parental Leave Act 2010

2 Section 192A

Repeal the section, substitute:

192A Time limit on debt recovery

For the purposes of this Part, legal proceedings, or any action under a provision of this Part, for the recovery of a debt may not be commenced after the period of 6 years starting on the day that the circumstances that gave rise to the debt first existed.

Social Security Act 1991

3 Section 1234B

Repeal the section, substitute:

1234B Time limit on debt recovery

For the purposes of this Chapter, legal proceedings, or any action under a provision of this Chapter, for the recovery of a debt or overpayment may not be commenced after the period of 6 years starting on the day that the circumstances that gave rise to the debt or overpayment first existed.

Student Assistance Act 1973

4 Section 42B

Repeal the section, substitute:

42B Time limit on debt recovery

For the purposes of this Part, legal proceedings, or any action under a provision of this Part, for the recovery of a debt may not be commenced after the period of 6 years starting on the day that the circumstances that gave rise to the debt first existed.

Part 2 — Application of amendments

5 Application of amendments

The amendments made by this Schedule apply in relation to a debt that is raised or an overpayment that is made, before, on or after this item commences.

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SHEET 3734

(1) Schedule 2, item 10, page 14 (after line 29), after section 43A, insert:

43B Indexation of urgent payment request upper limit

(1) On the first 1 July to occur after the commencement of this section and each later 1 July (an indexation day), the amount of $200 mentioned in paragraph 43(3DB)(a) (the indexable amount) is replaced by the amount worked out using the following formula:

The indexable amount immediately before the indexation day x Indexation factor for the indexation day

(2) The amount worked out under subsection (1) is to be rounded to the nearest whole dollar (rounding 50 cents upwards).

Indexation factor

(3) The indexation factor for an indexation day is the number worked out using the following formula:

Index number for the reference quarter / Index number for the base quarter

where:

base quarter means the last March quarter before the reference quarter.

index number, for a quarter, means the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) published by the Australian Statistician for that quarter.

March quarter means a period of 3 months starting on 1 January.

reference quarter means the last March quarter before the indexation day.

(4) The indexation factor is to be worked out to 3 decimal places (rounding up if the fourth decimal place is 5 or more).

Changes to CPI index reference period and publication of substituted index numbers

(5) Amounts are to be worked out under this section:

(a) using only the index numbers published in terms of the most recently published index reference period for the Consumer Price Index; and

(b) disregarding index numbers published in substitution for previously published index numbers (except where the substitution is to transition to a new index reference period).

Publication of indexable amount

(6) The Minister must, by notifiable instrument, publish the replacement indexable amount as soon as practicable after the indexation day. However, a failure by the Minister to do so does not invalidate the indexation.