Summary
Amends the:
Superannuation Industry (Supervision) Act 1993
to provide that a person must not promote a scheme that has resulted in a payment being made from a regulated superannuation fund otherwise than as prescribed by payment standards and impose a civil penalty for any contravention;
Superannuation Industry (Supervision) Act 1993
and
Taxation Administration Act 1953
to provide the power to give directions and impose administrative penalties for contraventions relating to self managed superannuation funds;
Income Tax Assessment Act 1936
to phase out the net medical expenses tax offset by the end of the 2018-19 income year; and
Income Tax Assessment Act 1997
to update the list of deductible gift recipients; and
Fringe Benefits Tax Assessment Act 1986
,
Income Tax Assessment Act 1936
and
Income Tax Assessment Act 1997
to make consequential amendments.