Second Reading Speeches

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

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
45

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Summary

Introduced with the Excise Tariff Amendment (Supporting Craft Brewers) Bill 2019, the bill amends the:

Superannuation Industry (Supervision) Act 1993
,
Income Tax Assessment Act 1997
and
Superannuation (Unclaimed Money and Lost Members) Act 1999
to: increase the maximum number of allowable members in self-managed superannuation funds (SMSFs) from four to six; align provisions that relate to SMSFs and small Australian Prudential Regulation Authority funds with the increased maximum number of members for SMSFs; and make contingent amendments to four Acts;
Excise Tariff Act 1921
to extend concessional rates of excise to brewers that supply draught beer in kegs or other containers with a capacity of eight litres or more that are designed for use with a pressurised gas delivery system or pump delivery system;
Income Tax Assessment Act 1997
and to extend the exemption for Global Infrastructure Hub Limited from the liability to pay income tax on its ordinary and statutory income to 30 June 2023; and 12 Acts to make minor technical amendments and repeal inoperative provisions.