Superannuation

This bill toughens Queensland's political donation disclosure rules and removes voter ID requirements. It also sets up a judicial-style pension for the chairperson of the Crime and Corruption Commission.

This bill makes a range of technical changes to Queensland's tax, superannuation, and government planning laws. It tightens a stamp duty home concession rule, backdates several tax exemptions that have been run administratively, lets State and Local Government employees choose their own super fund, opens QSuper and LGIAsuper to everyone, and cuts duplicated Queensland Plan reporting.

This bill establishes the Queensland Future Fund framework, starting with a Debt Retirement Fund that sets aside money exclusively for paying down State debt. It also legislates a 100% guarantee that the State will fully fund public sector defined benefit superannuation entitlements. The model is based on similar NSW legislation designed to satisfy credit rating agency requirements.

This bill facilitates the merger of QSuper and Sunsuper into Australia's second largest superannuation fund, with around $200 billion under administration. It retires the QSuper Board as trustee, moves the trust deed out of legislation into a non-statutory instrument, and ensures the merged entity stays headquartered in Queensland.