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Super (Sustaining the Superannuation Contribution Concessions) Imposition Bill 2013

Introduced into the House of Representatives on 15 May 2013

Portfolio: Financial Services and Superannuation

Overview

1.1        This bill contains the mechanism by which the reduction of 15 per cent in the tax concession for superannuation contributions enjoyed by very high-income earners provided for by the Tax and Superannuation Laws Amendment (Increased Concessional Contributions Cap and Other Measures) Bill 2013 is to be effected.

Compatibility with human rights

1.2        The bill is not accompanied by a separate explanatory memorandum or statement of compatibility; however, a joint explanatory memorandum relating to this bill and the Tax and Superannuation Laws Amendment (Increased Concessional Contributions Cap and Other Measures) Bill 2013, was submitted. In that explanatory memorandum there is a statement of compatibility which relates to Schedules 3 and 4 of the Tax and Superannuation Laws Amendment Bill and to this bill.[14]

1.3        That statement of compatibility states that none of the proposed amendments engage any of the applicable rights or freedoms and are therefore compatible with human rights as they do not raise any human rights issues.

1.4        Insofar as the bill is part of the proposed arrangements to give effect to the reduction in in the tax concession for superannuation contributions enjoyed by very high-income earners, it gives rise to the same human rights issues to which Schedules 3 and 4 of the Tax and Superannuation Laws Amendment Bill give rise and which are discussed in relation to that bill.

1.5                 The committee considers that the bill does not appear to give rise to human rights concerns.

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