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Bill
- Schedule 1—Removing the monthly minimum threshold for salary or wages to count towards the superannuation guarantee
- Schedule 2—First home super saver scheme maximum releasable amount
- Schedule 3—Reduced eligibility age for downsizer contributions
- Schedule 4—Work test reforms for superannuation contributions
- Schedule 5—Segregated current pension assets
- Schedule 6—Extension of temporary full expensing of depreciating assets
2019-2020-2021
The Parliament of the
Commonwealth of Australia
Presented and read a first time
No. , 2021
(Treasury)
A Bill for an Act to amend the law relating to superannuation and taxation, and for related purposes
Contents
1............ Short title............................................................................................ 1
2............ Commencement.................................................................................. 1
3............ Schedules............................................................................................ 2
Schedule 1—Removing the monthly minimum threshold for salary or wages to count towards the superannuation guarantee 3
Superannuation Guarantee (Administration) Act 1992 3
Schedule 2—First home super saver scheme maximum releasable amount 4
Taxation Administration Act 1953 4
Schedule 3—Reduced eligibility age for downsizer contributions 5
Income Tax Assessment Act 1997 5
Schedule 4—Work test reforms for superannuation contributions 6
Income Tax Assessment Act 1997 6
Schedule 5—Segregated current pension assets 8
Income Tax Assessment Act 1997 8
Schedule 6—Extension of temporary full expensing of depreciating assets 9
Income Tax (Transitional Provisions) Act 1997 9
A Bill for an Act to amend the law relating to superannuation and taxation, and for related purposes
The Parliament of Australia enacts:
This Act is the Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Act 2021 .
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
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Commencement information |
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Column 1 |
Column 2 |
Column 3 |
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Provisions |
Commencement |
Date/Details |
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1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table |
The day this Act receives the Royal Assent. |
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2. Schedules 1 and 2 |
The day after this Act receives the Royal Assent. |
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3. Schedules 3 to 6 |
The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent. |
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Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.
(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.