Total, by sector - - - - Cost offset Business Community Individuals Total, by source ($ million) organisations Agency - - - - Are all new offset? Yes, costs are offset No, costs are not offset Deregulatory—no offsets required Total (Change in costs Cost offset) ($ million) = $0 – Option 2: Stage 1 Mandatory real time reporting of tax and superannuation obligations for all large – employers (with 20 or more employees) with the option to voluntarily make payments in real time. All other employers can opt in voluntarily. Note: Voluntary involvement could reach 30% of smaller employers . This would increase on-going savings to about $135million and net savings to about $105 million (over a 10 year period). Average net annual regulatory (from business as usual) Change in costs Business Community Individuals Total change in ($ million) organisations costs by sector -$55m - - -$55m Cost offset Business Community Individuals Total, by source ($ million) organisations Agency -$55m - - -$55m Are all new costs offset? Yes, costs are offset No, costs are not offset Deregulatory—no offsets required Total (Change in costs Cost offset) ($ million) = $0 – Option 2: Stage 2 Mandatory real time reporting of tax and superannuation obligations for all employers – with the option to voluntarily make payments in real time. Average net annual regulatory costs (from business as usual) Change in costs Business Community Individuals Total change in ($ million) organisations costs Total, by sector -$230m - - -$230m
Total, by sector - - - - Cost offset ($ million) Business Community organisations Individuals Total, by source Agency - - - - Are all new offset? Yes, costs are offset No, costs are not offset Deregulatory—no offsets required Total (Change in costs – Cost offset) ($ million) = $0 Option 2: Stage 1 – Mandatory real time reporting of tax and superannuation obligations for all large employers (with 20 or more employees) with the option to voluntarily make payments in real time. All other employers can opt in voluntarily. Note: Voluntary involvement could reach 30% of smaller employers . This would increase on-going savings to about $135million and net savings to about $105 million (over a 10 year period). Average net annual regulatory (from business as usual) Change in costs ($ million) Business Community organisations Individuals Total change in costs by sector -$55m - - -$55m Cost offset ($ million) Business Community organisations Individuals Total, by source Agency -$55m - - -$55m Are all new costs offset? Yes, costs are offset No, costs are not offset Deregulatory—no offsets required Total (Change in costs – Cost offset) ($ million) = $0 Option 2: Stage 2 – Mandatory real time reporting of tax and superannuation obligations for all employers with the option to voluntarily make payments in real time. Average net annual regulatory costs (from business as usual) Change in costs ($ million) Business Community organisations Individuals Total change in costs Total, by sector -$230m - - -$230m
RIS-4.docx