Superannuation (Excess Transfer Balance Tax) Imposition Bill 2016

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

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Summary

Introduced with the Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016, the bill imposes an excess transfer balance tax on the notional earnings of capital moved into a retirement phase superannuation account that is in excess of $1.6 million.

Progress

Finally passed both Houses 03 Nov 2016
House of Representatives
Introduced and read a first time 09 Nov 2016
Second reading moved 09 Nov 2016
Second reading debate 22 Nov 2016
Second reading agreed to 22 Nov 2016
Third reading agreed to 22 Nov 2016
Senate
Introduced and read a first time 23 Nov 2016
Second reading moved 23 Nov 2016
Second reading debate 23 Nov 2016
Second reading agreed to 23 Nov 2016
Committee of the Whole debate 23 Nov 2016
Third reading agreed to 23 Nov 2016
Assent
  • Act no: 80
  • Year: 2016
29 Nov 2016

Documents and transcripts

Text of bill

Explanatory memoranda

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Bills digest

Notes

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 changes to the bill. For details about the outcome of proposed amendments please refer to either the 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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