Due to COVID-19 Parliament House has limited public access. Bookings are essential for all public visits.

Second Reading Speeches

Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2019

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
46

Track (What's this?)

Permalink

Summary

Amends the:

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
,
Taxation Administration Act 1953
and
Income Tax (Transitional Provisions) Act 1997
to ensure that, in certain circumstances involving limited recourse borrowing arrangements, the total value of a superannuation fund's assets is taken into account in working out individual members' total superannuation balances.