New Fund Pays Tasmania's Superannuation Debts Using Half the GST Surplus
Superannuation Liability (GST Windfall Fund) Bill 2025
House of Assembly
Legislative Council
Assent
Introduced by: Eric Abetz (LIB)
Links to official parliament websites
Effects of this bill
If this bill passes, it means that:
The State establishes a Superannuation Liability Fund to offset unfunded superannuation debts.
The Secretary must decide if there is a GST windfall within three months of the final budget outcome report.
The Secretary must pay 50% of any GST windfall into the Superannuation Liability Fund.
The Treasurer can transfer money from the Superannuation Liability Fund to the Retirement Benefits Fund.
Money cannot be moved out of the Superannuation Liability Fund for any other purpose.
The Treasurer can move money to another public account and close the fund; this requires approval from both Houses of Parliament.
The State will create the Superannuation Liability Fund to help pay for unfunded superannuation debts.
The Department Secretary must check within three months of the final budget report if the State received more GST money than expected.
If there is a GST windfall, the Department Secretary must pay half of that extra money into the Superannuation Liability Fund.
The Treasurer can move money from the Superannuation Liability Fund to the Retirement Benefits Fund to pay off superannuation debts.
The Treasurer can move money from the Superannuation Liability Fund to another public account, but only if both Houses of Parliament approve.
The State cannot move money out of the Superannuation Liability Fund or close the fund unless it follows these specific rules.