Permalink Prev Next Return to results list (1 results)

Bills of previous Parliaments

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.

Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021

Type	Government
Originating house	House of Representatives
Status	Act
Portfolio	Treasury

Summary

Amends the: Superannuation Guarantee (Administration) Act 1992 to remove the $450-a-month threshold before an employee's salary or wages count towards the superannuation guarantee; Taxation Administration Act 1953 to increase the limit on the maximum amount of voluntary contributions made over multiple financial years that are eligible to be released under the First Home Super Saver Scheme from $30 000 to $50 000; Income Tax Assessment Act 1997 to: enable individuals aged 60 and above to make downsizer contributions to their superannuation plan from the proceeds of selling their home; apply the work test to individuals aged between 67 and 75 who claim a deduction for personal superannuation contributions and allow such individuals to make or receive non-concessional superannuation contributions under the bring forward rule; and enable superannuation trustees to choose their preferred method of calculating exempt current pension income when they have member interests in both accumulation and retirement phases for part, but not all, of the income year; and Income Tax (Transitional Provisions) Act 1997 to extend the temporary full expensing regime to 30 June 2023.

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	27/10/21
Second reading moved	27/10/21
Second reading agreed to	10/02/22 (after midnight)
Third reading agreed to	10/02/22 (after midnight)

Senate
Introduced and read a first time	10/02/22
Second reading moved	10/02/22
Second reading agreed to	10/02/22
Third reading agreed to	10/02/22

Finally passed both Houses	10/02/22
Assent	22/02/22	Act no: 10 - Year: 2022