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Bills of the current Parliament

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Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2018


Type
Government
Originating house
House of Representatives
Status
Before Senate
Portfolio
Treasury

Summary

Amends the: Income Tax Assessment Act 1997 and Superannuation Guarantee (Administration) Act 1992 to provide for a one-off 12 month amnesty to encourage employers to self-correct historical superannuation guarantee non-compliance; Superannuation Guarantee (Administration) Act 1992 to enable certain employees with multiple employers to apply for an employer shortfall exemption certificate which prevents their employer from having a superannuation guarantee shortfall if they do not make contributions for a period; Administrative Decisions (Judicial Review) Act 1977 to make consequential amendments; Income Tax Assessment Act 1997 to ensure that a superannuation entity’s non-arm’s length income includes income where expenditure in gaining or producing it was not an arm’s length expense; and Income Tax Assessment Act 1997 and Taxation Administration Act 1953 to ensure that, in certain circumstances involving limited recourse borrowing arrangements, the total value or a superannuation fund’s assets is taken into account in working out individual members’ total superannuation balances.

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 24/05/18  
Second reading moved 24/05/18  
Second reading debate 19/06/18  
Second reading debate 20/06/18  
Second reading agreed to 20/06/18  
Consideration in detail debate 20/06/18  
Third reading agreed to 20/06/18  
     
Senate
Introduced and read a first time 25/06/18  
Second reading moved 25/06/18  
     

Text of bill

  • First reading

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

House of Representatives
  • Non-Government
BOWEN, Chris, MP

MS-Word PDF HTML

Schedules of amendments

Bills Digest



Notes