The Bill was fully considered by the Federation Chamber and then sent back to the lower house where it was read a third time and passed.
The Bill’s passage follows the introduction of amendments by assistant treasurer David Bradbury this morning, which saw a 12-month extension granted to financial planners in complying with the laws.
Shadow minister for financial services Senator Mathias Cormann welcomed the passage of the changed TASA Bill, claiming it shows the government has acquiesced to the Coalition’s demands.
“That is despite their initial attempt to ram this legislation through the House of Representatives without even a parliamentary committee inquiry,” he told ifa.
“A competent government would have seen the sense in our proposals straight away – but as they say, better late than never.”
maybe now someone can provide common sense certainty as to what we as planners need to do moving forward, or will there be another year of maybe and what ifs
Common sense prevails at last. Thank you Labour its the last act of drowning man. It wont save you at the polls.