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
Introduced and read a first time 29 May 2013
Second reading moved 29 May 2013
Referred to Federation Chamber 20 Jun 2013
Second reading debate 20 Jun 2013
Second reading agreed to 20 Jun 2013
Consideration in detail debate
  • Amendment details: 2 Government agreed to
20 Jun 2013
Reported from Federation Chamber 20 Jun 2013
Third reading agreed to 20 Jun 2013
Senate
Introduced and read a first time 24 Jun 2013
Second reading moved 24 Jun 2013
Second reading debate 24 Jun 2013
Second reading agreed to 24 Jun 2013
Third reading agreed to 24 Jun 2013
Text of bill as passed both Houses 24 Jun 2013
Assent
  • Act no.: 89
  • Year: 2013
28 Jun 2013

Documents and transcripts

Text of bill

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Explanatory memoranda

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Proposed amendments

House of representatives

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Schedules of amendments

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Bills digest

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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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