Tax and Superannuation Laws Amendment (2012 Measures No. 1) Bill 2012

Type
Government
Portfolio
Treasury 
Originating house
House of Representatives 
Status
Act 
Parliament no
43
Summary
Amends the:
A New Tax System (Goods and Services Tax) Act 1999
  to provide: that a supply made by a health care provider to an insurer, statutory compensation scheme operator, compulsory third party scheme operator or a government entity is treated as GST-free supply; and that non-commercial activities of government related entites are not subject to GST;
Income Tax Assessment Act 1997
  to pause the indexation of the superannuation concessional contributions cap during the 2013-14 financial year;
Income Tax Assessment Act 1997
,
Superannuation (Government Co-contribution for Low Income Earners) Act 2003
,
Taxation Administration Act 1953
  and
Taxation (Interest on Overpayments and Early Payments) Act 1983
  to allow eligible individuals the option to have excess concessional contributions taken out of their superannuation fund and assessed at their marginal tax rates;
Taxation Administration Act 1953
  to: permit the Australian Taxation Office to disclose individual’s superannuation information to superannuation entities and their administrators for certain purposes; and provide the Commisioner of Taxation with a discretion to delay refunding an amount to a taxpayer pending integrity checks of their claim; and
Superannuation Industry (Supervision) Act 1993
  to require employers to report, on payslips, any information prescribed in the regulations about superannuation contributions. 

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Progress

House of Representatives
01 Mar 2012Introduced and read a first time
01 Mar 2012Second reading moved
21 May 2012Referred to Federation Chamber
21 May 2012Second reading debate
21 May 2012Second reading agreed to
22 May 2012Reported from Federation Chamber
22 May 2012Third reading agreed to
Senate
18 Jun 2012Introduced and read a first time
18 Jun 2012Second reading moved
18 Jun 2012Second reading debate
18 Jun 2012Second reading agreed to
18 Jun 2012Third reading agreed to


18 Jun 2012Text of bill as passed both Houses
27 Jun 2012Assent

Act no.: 75

Year: 2012

Documents and transcripts

Text of bill

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Word Format PDF Format

Explanatory memoranda

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Word Format PDF Format

Transcript of speeches

Proposed amendments

No documents at present

Schedules of amendments

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Committee Information

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Bills Digest

No documents at present

Notes

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Helpful information

Text of bill

  • First reading: Text of the bill as introduced into the Parliament
  • Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
  • As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

  • Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
  • Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
  • Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changed to the bill. For details about the outcome of proposed amendments please refer to either theĀ Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.

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