Commonwealth Consolidated Acts Commonwealth Consolidated Acts
Anti - Money Laundering and Counter - Terrorism Financing Act 2006
1 Section 5 (definition of contribution )
Omit "an RSA", substitute "an FHSA or RSA".
2 Section 5
Insert:
"FHSA" (short for first home saver account) has the same meaning as in the First Home Saver Accounts Act 2008 .
3 Section 5
Insert:
"FHSA provider" (short for first home saver account provider) has the same meaning as in the First Home Saver Accounts Act 2008 .
4 Subsection 6(2) (after table item 43)
Insert:
43A | in the capacity of FHSA provider, accepting a contribution, roll - over or transfer to an FHSA in respect of a new or existing FHSA holder | the FHSA holder |
43B | in the capacity of FHSA provider, cashing the whole or a part of an interest held by an FHSA holder | the FHSA holder, or if the FHSA holder has died, the person, or each of the persons, who receives the cashed whole or a cashed part of the relevant interest |
Australian Prudential Regulation Authority Act 1998
5 Subsection 3(1) (after paragraph ( f) of the definition of prudential regulation framework law )
Insert:
(fa) the First Home Saver Accounts Act 2008 ;
6 At the end of subsection 3(2)
Add:
; (h) an FHSA provider, within the meaning of the First Home Saver Accounts Act 2008 .
7 Subsection 3(2) (note)
Omit "and RSA is short for retirement savings account", substitute ", RSA is short for retirement savings account and FHSA is short for first home saver account".
8 Subsection 56(1) (at the end of the definition of protected document )
Add:
; or (f) a document given or produced under, or for the purposes of, a provision of the First Home Saver Accounts Act 2008 :
(i) administered by the Commissioner of Taxation; or
(ii) being applied for the purposes of the administration of a provision administered by the Commissioner of Taxation.
9 Subsection 56(1) (at the end of the definition of protected information )
Add:
; or (f) information given or produced under, or for the purposes of, a provision of the First Home Saver Accounts Act 2008 :
(i) administered by the Commissioner of Taxation; or
(ii) being applied for the purposes of the administration of a provision administered by the Commissioner of Taxation.
10 Paragraph 11CA(1)(a)
Repeal the paragraph, substitute:
(a) the body corporate has contravened a provision of:
(i) this Act; or
(ii) the Financial Sector (Collection of Data) Act 2001 ; or
(iii) the First Home Saver Accounts Act 2008 ; or
11 Paragraph 11CA(1)(c)
Omit "or the Financial Sector (Collection of Data) Act 2001 ", substitute ", the Financial Sector (Collection of Data) Act 2001 or the First Home Saver Accounts Act 2008 ".
12 Paragraph 11CA(2)(aa)
Repeal the paragraph, substitute:
(aa) to comply with the whole or a part of:
(i) this Act; or
(ii) the Financial Sector (Collection of Data) Act 2001 ; or
(iii) the First Home Saver Accounts Act 2008 ;
13 At the end of section 18A
Add:
(5) For the purposes of this section, treat a reference in this section to a matter in relation to which APRA has a power or function under this Act as including a matter in relation to which APRA has a power or function under the First Home Saver Accounts Act 2008 in respect of ADIs.
14 Section 51A (definition of reviewable decision of APRA )
After "this Act", insert "or the First Home Saver Accounts Act 2008 ".
15 At the end of section 62A
Add:
(4) For the purposes of this section, treat a reference in this section to this Act as including a reference to the First Home Saver Accounts Act 2008 .
16 Subparagraph 14(2)(a)(ii)
Omit "may be; and", substitute "may be; or".
17 At the end of paragraph 14(2)(a)
Add:
(iii) in accordance with section 31 of the First Home Saver Accounts Act 2008 ; and
18 Subparagraph 14(4)(b)(ii)
Omit "may be.", substitute "may be; or".
19 At the end of paragraph 14(4)(b)
Add:
(iii) in accordance with section 31 of the First Home Saver Accounts Act 2008 .
20 Section 74
Before "In", insert "(1)".
21 At the end of section 74
Add:
(2) For the purposes of sections 88, 88A, 98 and 98A of this Part, treat a reference in those sections to this Act as including a reference to the First Home Saver Accounts Act 2008 .
22 Section 126
Before "In", insert "(1)".
23 At the end of section 126
Add:
(2) For the purposes of this Part, treat a reference in this Part to this Act as including a reference to the First Home Saver Accounts Act 2008 .
24 At the end of section 230A
Add:
(14) For the purposes of this Part, treat a reference in this section to this Act as including a reference to the First Home Saver Accounts Act 2008 .
25 At the end of section 230B
Add:
(11) For the purposes of this Part, treat a reference in this section to this Act as including a reference to the First Home Saver Accounts Act 2008 .
26 Subsection 236(1) (definition of reviewable decision )
After "means", insert ", subject to subsection ( 1AA),".
27 After subsection 236(1)
Insert:
(1AA) For the purposes of this section, treat a reference in this section to a reviewable decision as including a reference to a decision of the Regulator (within the meaning of the First Home Saver Accounts Act 2008 ) to which, under that Act, this section applies.
28 After paragraph 8(8)(b)
Insert:
(ba) any return on a person's investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 );
29 Subsection 9(1) (at the end of the definition of financial investment )
Add:
; but does not include an investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 ).
30 Subsection 9(1) (at the end of the definition of investment )
Add:
; or (c) in relation to an investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 )--has the meaning given by subsection ( 9B).
31 Subsection 9(1) (at the end of the definition of return )
Add:
; or (c) in relation to an investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 )--means any increase, whether of a capital or income nature and whether or not distributed, in the value or amount of the investment.
32 After paragraph 9(1C)(ca)
Insert:
(cb) an investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 );
33 After subsection 9(9A)
Insert:
(9B) For the purposes of this Act, a person has an investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 ) if the person has benefits in the FHSA (whether the benefits are attributable to amounts paid by the person or someone else).
34 Subsection 10B(2) (after paragraph ( c) of the definition of trust )
Insert:
(ca) an FHSA trust (within the meaning of the First Home Saver Accounts Act 2008 ); or
35 After paragraph 1118(1)(f)
Insert:
(fa) the value of the person's investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 );
36 At the end of subsection 1207P(1)
Add:
; or (d) the trust is an FHSA trust (within the meaning of the First Home Saver Accounts Act 2008 ).
Superannuation (Government Co - contribution for Low Income Earners) Act 2003
37 At the end of paragraph 7(1)(c)
Add:
; (v) a payment from an FHSA required under section 22 or 34 of the First Home Saver Accounts Act 2008 ;
(vi) a Government FHSA contribution (within the meaning of the First Home Saver Accounts Act 2008 ).
Superannuation Industry (Supervision) Act 1993
38 At the end of subsection 29G(2)
Add:
; (v) where the RSE licensee is an FHSA provider (within the meaning of the First Home Saver Accounts Act 2008 )--circumstances exist as described in paragraph 107(2)(b), (c), (d), (e) or (f) of that Act.
Veterans' Entitlements Act 1986
39 After paragraph 5H(8)(i)
Insert:
(ia) any return on a person's investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 );
40 Subsection 5J(1) (at the end of the definition of financial investment )
Add:
; but does not include an investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 ).
41 Subsection 5J(1) (at the end of the definition of investment )
Add:
; or (c) in relation to an investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 )--has the meaning given by subsection ( 6B).
42 Subsection 5J(1) (after paragraph ( a) of the definition of return )
Insert:
(aa) in relation to an investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 )--means any increase, whether of a capital or income nature and whether or not distributed, in the value or amount of the investment; or
43 After paragraph 5J(1C)(ca)
Insert:
(cb) an investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 );
44 After subsection 5J(6A)
Insert:
(6B) For the purposes of this Act, a person has an investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 ) if the person has benefits in the FHSA (whether the benefits are attributable to amounts paid by the person or someone else).
45 After paragraph 52(1)(f)
Insert:
(faa) the value of the person's investment in an FHSA (within the meaning of the First Home Saver Accounts Act 2008 );
46 At the end of subsection 52ZZB(1)
; or (d) the trust is an FHSA trust (within the meaning of the First Home Saver Accounts Act 2008 ).