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Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.

Tax and Superannuation Laws Amendment (Increased Concessional Contributions Cap and Other Measures) Bill 2013


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Introduced with the Superannuation (Sustaining the Superannuation Contribution Concession) Imposition Bill 2013, the bill amends: the Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 to increase the superannuation concessional contributions cap to $35 000 for the 2013-14 financial year for individuals aged 60 years and over, and to $35 000 for the 2014-15 financial year and later financial years for individuals aged 50 years and over; the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 to make technical amendments; the Income Tax Assessment Act 1997 and Taxation Administration Act 1953 to reduce the tax concession that individuals whose income exceeds $300 000 receive on their concessionally taxed superannuation contributions made from 1 July 2012 to 15 per cent; and eight Acts to make consequential amendments.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 15/05/13  
Second reading moved 15/05/13  
Second reading debate 29/05/13  
Second reading agreed to 29/05/13  
Third reading agreed to 29/05/13  
     
Senate
Introduced and read a first time 17/06/13  
Second reading moved 17/06/13  
Second reading debate 24/06/13  
Second reading agreed to 24/06/13  
Third reading agreed to 24/06/13  
     
Text of bill as passed both Houses 24/06/13  
Assent 28/06/13 Act no.: 82 of 2013
     

Text of bill

  • First reading

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  • As passed by both Houses

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Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

Bills Digest



Notes