Government’s proposal would “remake” the existing regulations, which are due to cease on 1 April.
“The draft regulations improve the 2004 regulations by omitting redundant provisions, simplifying language and restructuring provisions for ease of navigation,” a statement released on Monday (20 December) reads.
“This includes minor changes to increase the use of headings and references to ‘section’ rather than ‘regulation’ in accordance with modern drafting practice.”
The proposed changes include amending the definition of an eligible account to receive super co-contribution payments, so it excludes those that only provide terminal medical condition benefits.
The government says this change would be consistent with the intention that the super co-contribution payment not be paid to insurance-only accounts.
The draft regulations also see to clarify section 7, which states a government co-contribution is to be directed in “specific circumstances”.
Submissions for the draft regulations are open now and close on 14 January 2022.
Great work Government. Open submissions 4 days before Christmas and close them mid January. You would think they have done it to ensure most people aren’t aware of it. Bureaucrats are killing this place.