Superannuation Laws Amendment (MySuper Capital Gains Tax Relief and Other Measures) Bill 2013

Type
Government
Portfolio
Treasury 
Originating house
House of Representatives 
Status
Act 
Parliament no
43
Summary
Amends the:
Income Tax Assessment Act 1997
  to provide income tax relief to superannuation funds where there is a mandatory transfer of default members’ account balances to a MySuper product in another superannuation fund;
Defence Force Retirement and Death Benefits Act 1973
  to make consequential amendments as a result of the proposed
Tax and Superannuation Laws Amendment (Increased Concessional Contributions Cap and Other Measures) Act 2013
; and
Fair Work Amendment Act 2012
  to: allow contributions for default fund employees to whom a modern award applies to be directed to an employer MySuper product, subject to Fair Work Commission (FWC) approval; increase the maximum number of funds that can generally be specified in a modern award from 10 to 15; require the FWC to review terms in modern awards every four years; and make consequential and technical amendments. 

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Progress

House of Representatives
29 May 2013Introduced and read a first time
29 May 2013Second reading moved
20 Jun 2013Referred to Federation Chamber
20 Jun 2013Second reading debate
20 Jun 2013Second reading agreed to
20 Jun 2013Consideration in detail debate

Amendment details: 2 Government agreed to
20 Jun 2013Reported from Federation Chamber
20 Jun 2013Third reading agreed to
Senate
24 Jun 2013Introduced and read a first time
24 Jun 2013Second reading moved
24 Jun 2013Second reading debate
24 Jun 2013Second reading agreed to
24 Jun 2013Third reading agreed to


24 Jun 2013Text of bill as passed both Houses
28 Jun 2013Assent

Act no.: 89

Year: 2013

Documents and transcripts

Text of bill

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Word Format PDF Format
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Explanatory memoranda

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Transcript of speeches

Proposed amendments

House of Representatives
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Schedules of amendments

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Committee Information

No documents at present

Bills Digest PDF Format

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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