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senate vote 2014-09-02#5

Edited by mackay

on 2014-10-09 14:34:40

Title

Description

  • The majority voted in favour of [government amendments](http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Famend%2Fr5327_amend_3ea3a9ba-2299-4810-93d3-254da6fdbb2e%22;rec=0), which means that they were successful. The amendments make the following changes. They:
  • - "further adjust the proposed amended timetable for increasing the [superannuation guarantee](http://en.wikipedia.org/wiki/Superannuation_in_Australia#Employer_contributions) (SG) charge percentage to 12 per cent by pausing the SG rate at 9.5 per cent for financial years up to and including 2020-21. The SG charge percentage will then increase by half a percentage point each year, until it reaches 12 per cent for years starting on or after 1 July 2025;
  • - change the repeal date for the [low income superannuation contribution](http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/) (LISC) so that it applies to concessional contributions made for the 2017-18 financial year and later financial years;
  • - change the repeal date for the [income support bonus](http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus) (ISB) to 31 December 2016 and make minor technical and consequential amendments as a result of the delayed repeal; and
  • - change the repeal date of the [schoolkids bonus](http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus) (SKB) to 31 December 2016, and apply an income test for payments of the bonus between [Royal Assent](http://en.wikipedia.org/wiki/Royal_Assent) of the Bill and the new repeal date."(Read more about these amendments [here](http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_f7aeb948-26ed-4333-97dc-b13f4fa1f460%22;rec=0).
  • )
  • _Background to the bill_
  • This [bill](http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query%3DId%3A%22legislation%2Fbillhome%2Fr5327%22;rec=0) was introduced following the [Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 (No. 2)](http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5300) being laid aside because it could not "be progressed in its current form".(Read more about this bill being set aside [here](http://www.openaustralia.org/debates/?id=2014-09-01.34.2). The division which resulted in that bill being laid aside is available [here](http://publicwhip-rails.openaustraliafoundation.org.au/division.php?date=2014-09-01&house=representatives&number=1). )
  • The majority voted in favour of [government amendments](http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Famend%2Fr5327_amend_3ea3a9ba-2299-4810-93d3-254da6fdbb2e%22;rec=0), which means that they were successful. The amendments make the following changes. They:
  • - "further adjust the proposed amended timetable for increasing the [superannuation guarantee](http://en.wikipedia.org/wiki/Superannuation_in_Australia#Employer_contributions) (SG) charge percentage to 12 per cent by pausing the SG rate at 9.5 per cent for financial years up to and including 2020-21. The SG charge percentage will then increase by half a percentage point each year, until it reaches 12 per cent for years starting on or after 1 July 2025;
  • - change the repeal date for the [low income superannuation contribution](http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/) (LISC) so that it applies to concessional contributions made for the 2017-18 financial year and later financial years;
  • - change the repeal date for the [income support bonus](http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus) (ISB) to 31 December 2016 and make minor technical and consequential amendments as a result of the delayed repeal; and
  • - change the repeal date of the [schoolkids bonus](http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus) (SKB) to 31 December 2016, and apply an income test for payments of the bonus between [Royal Assent](http://en.wikipedia.org/wiki/Royal_Assent) of the Bill and the new repeal date."(Read more about these amendments [here](http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_f7aeb948-26ed-4333-97dc-b13f4fa1f460%22;rec=0).)
  • _Background to the bill_
  • This [bill](http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query%3DId%3A%22legislation%2Fbillhome%2Fr5327%22;rec=0) was introduced following the [Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 (No. 2)](http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5300) being laid aside because it could not "be progressed in its current form".(Read more about this bill being set aside [here](http://www.openaustralia.org/debates/?id=2014-09-01.34.2). The division which resulted in that bill being laid aside is available [here](http://publicwhip-rails.openaustraliafoundation.org.au/division.php?date=2014-09-01&house=representatives&number=1). )
  • This bill repeals the [Minerals Resource Rent Tax](http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax) as well as related measures such as the [low income superannuation contribution](http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/), the [income support bonus](http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus) and the [schoolkids bonus](http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus). The bill also revises the capital allowances for small business entities and the superannuation guarantee charge percentage increase.(Read more about the changes made in the bill in the [explanatory memorandum](http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_6cc22e3e-bdd9-4502-a40b-9e1ec81029c4%22). ) Under the previous Labor government, the superannuation was set to increase to 12 per cent by 2019 (as of 1 July 2014, it is at 9.5 per cent).(Read more about superannuation in Australia [here](http://en.wikipedia.org/wiki/Superannuation_in_Australia).) However, this bill will push that rise up until 1 July 2025.
senate vote 2014-09-02#5

Edited by system

on 2014-10-07 16:22:28

Title

Description

  • The majority voted in favour of [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Famend%2Fr5327_amend_3ea3a9ba-2299-4810-93d3-254da6fdbb2e%22;rec=0 government amendments], which means that they were successful. The amendments make the following changes. They:
  • * "further adjust the proposed amended timetable for increasing the [http://en.wikipedia.org/wiki/Superannuation_in_Australia#Employer_contributions superannuation guarantee] (SG) charge percentage to 12 per cent by pausing the SG rate at 9.5 per cent for financial years up to and including 2020-21. The SG charge percentage will then increase by half a percentage point each year, until it reaches 12 per cent for years starting on or after 1 July 2025;
  • * change the repeal date for the [http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/ low income superannuation contribution] (LISC) so that it applies to concessional contributions made for the 2017-18 financial year and later financial years;
  • * change the repeal date for the [http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus income support bonus] (ISB) to 31 December 2016 and make minor technical and consequential amendments as a result of the delayed repeal; and
  • * change the repeal date of the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus] (SKB) to 31 December 2016, and apply an income test for payments of the bonus between [http://en.wikipedia.org/wiki/Royal_Assent Royal Assent] of the Bill and the new repeal date."(Read more about these amendments [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_f7aeb948-26ed-4333-97dc-b13f4fa1f460%22;rec=0 here]. )
  • ''Background to the bill''
  • This [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query%3DId%3A%22legislation%2Fbillhome%2Fr5327%22;rec=0 bill] was introduced following the [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5300 Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 (No. 2)] being laid aside because it could not "be progressed in its current form".(Read more about this bill being set aside [http://www.openaustralia.org/debates/?id=2014-09-01.34.2 here]. The division which resulted in that bill being laid aside is available [http://publicwhip-rails.openaustraliafoundation.org.au/division.php?date=2014-09-01&house=representatives&number=1 here]. )
  • This bill repeals the [http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax Minerals Resource Rent Tax] as well as related measures such as the [http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/ low income superannuation contribution], the [http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus income support bonus] and the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus]. The bill also revises the capital allowances for small business entities and the superannuation guarantee charge percentage increase.(Read more about the changes made in the bill in the [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_6cc22e3e-bdd9-4502-a40b-9e1ec81029c4%22 explanatory memorandum]. ) Under the previous Labor government, the superannuation was set to increase to 12 per cent by 2019 (as of 1 July 2014, it is at 9.5 per cent).(Read more about superannuation in Australia [http://en.wikipedia.org/wiki/Superannuation_in_Australia here].) However, this bill will push that rise up until 1 July 2025.
  • The majority voted in favour of [government amendments](http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Famend%2Fr5327_amend_3ea3a9ba-2299-4810-93d3-254da6fdbb2e%22;rec=0), which means that they were successful. The amendments make the following changes. They:
  • - "further adjust the proposed amended timetable for increasing the [superannuation guarantee](http://en.wikipedia.org/wiki/Superannuation_in_Australia#Employer_contributions) (SG) charge percentage to 12 per cent by pausing the SG rate at 9.5 per cent for financial years up to and including 2020-21. The SG charge percentage will then increase by half a percentage point each year, until it reaches 12 per cent for years starting on or after 1 July 2025;
  • - change the repeal date for the [low income superannuation contribution](http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/) (LISC) so that it applies to concessional contributions made for the 2017-18 financial year and later financial years;
  • - change the repeal date for the [income support bonus](http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus) (ISB) to 31 December 2016 and make minor technical and consequential amendments as a result of the delayed repeal; and
  • - change the repeal date of the [schoolkids bonus](http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus) (SKB) to 31 December 2016, and apply an income test for payments of the bonus between [Royal Assent](http://en.wikipedia.org/wiki/Royal_Assent) of the Bill and the new repeal date."(Read more about these amendments [here](http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_f7aeb948-26ed-4333-97dc-b13f4fa1f460%22;rec=0).
  • )
  • _Background to the bill_
  • This [bill](http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query%3DId%3A%22legislation%2Fbillhome%2Fr5327%22;rec=0) was introduced following the [Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 (No. 2)](http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5300) being laid aside because it could not "be progressed in its current form".(Read more about this bill being set aside [here](http://www.openaustralia.org/debates/?id=2014-09-01.34.2). The division which resulted in that bill being laid aside is available [here](http://publicwhip-rails.openaustraliafoundation.org.au/division.php?date=2014-09-01&house=representatives&number=1). )
  • This bill repeals the [Minerals Resource Rent Tax](http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax) as well as related measures such as the [low income superannuation contribution](http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/), the [income support bonus](http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus) and the [schoolkids bonus](http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus). The bill also revises the capital allowances for small business entities and the superannuation guarantee charge percentage increase.(Read more about the changes made in the bill in the [explanatory memorandum](http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_6cc22e3e-bdd9-4502-a40b-9e1ec81029c4%22). ) Under the previous Labor government, the superannuation was set to increase to 12 per cent by 2019 (as of 1 July 2014, it is at 9.5 per cent).(Read more about superannuation in Australia [here](http://en.wikipedia.org/wiki/Superannuation_in_Australia).) However, this bill will push that rise up until 1 July 2025.
senate vote 2014-09-02#5

Edited by system

on 2014-10-07 16:17:02

Title

Description

  • The majority voted in favour of [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Famend%2Fr5327_amend_3ea3a9ba-2299-4810-93d3-254da6fdbb2e%22;rec=0 government amendments], which means that they were successful. The amendments make the following changes. They:
  • * "further adjust the proposed amended timetable for increasing the [http://en.wikipedia.org/wiki/Superannuation_in_Australia#Employer_contributions superannuation guarantee] (SG) charge percentage to 12 per cent by pausing the SG rate at 9.5 per cent for financial years up to and including 2020-21. The SG charge percentage will then increase by half a percentage point each year, until it reaches 12 per cent for years starting on or after 1 July 2025;
  • * change the repeal date for the [http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/ low income superannuation contribution] (LISC) so that it applies to concessional contributions made for the 2017-18 financial year and later financial years;
  • * change the repeal date for the [http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus income support bonus] (ISB) to 31 December 2016 and make minor technical and consequential amendments as a result of the delayed repeal; and
  • * change the repeal date of the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus] (SKB) to 31 December 2016, and apply an income test for payments of the bonus between [http://en.wikipedia.org/wiki/Royal_Assent Royal Assent] of the Bill and the new repeal date."[1]
  • * change the repeal date of the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus] (SKB) to 31 December 2016, and apply an income test for payments of the bonus between [http://en.wikipedia.org/wiki/Royal_Assent Royal Assent] of the Bill and the new repeal date."(Read more about these amendments [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_f7aeb948-26ed-4333-97dc-b13f4fa1f460%22;rec=0 here]. )
  • ''Background to the bill''
  • This [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query%3DId%3A%22legislation%2Fbillhome%2Fr5327%22;rec=0 bill] was introduced following the [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5300 Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 (No. 2)] being laid aside because it could not "be progressed in its current form".[2]
  • This [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query%3DId%3A%22legislation%2Fbillhome%2Fr5327%22;rec=0 bill] was introduced following the [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5300 Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 (No. 2)] being laid aside because it could not "be progressed in its current form".(Read more about this bill being set aside [http://www.openaustralia.org/debates/?id=2014-09-01.34.2 here]. The division which resulted in that bill being laid aside is available [http://publicwhip-rails.openaustraliafoundation.org.au/division.php?date=2014-09-01&house=representatives&number=1 here]. )
  • This bill repeals the [http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax Minerals Resource Rent Tax] as well as related measures such as the [http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/ low income superannuation contribution], the [http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus income support bonus] and the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus]. The bill also revises the capital allowances for small business entities and the superannuation guarantee charge percentage increase.[3] Under the previous Labor government, the superannuation was set to increase to 12 per cent by 2019 (as of 1 July 2014, it is at 9.5 per cent).[4] However, this bill will push that rise up until 1 July 2025.
  • This bill repeals the [http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax Minerals Resource Rent Tax] as well as related measures such as the [http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/ low income superannuation contribution], the [http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus income support bonus] and the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus]. The bill also revises the capital allowances for small business entities and the superannuation guarantee charge percentage increase.(Read more about the changes made in the bill in the [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_6cc22e3e-bdd9-4502-a40b-9e1ec81029c4%22 explanatory memorandum]. ) Under the previous Labor government, the superannuation was set to increase to 12 per cent by 2019 (as of 1 July 2014, it is at 9.5 per cent).(Read more about superannuation in Australia [http://en.wikipedia.org/wiki/Superannuation_in_Australia here].) However, this bill will push that rise up until 1 July 2025.
  • ''References''
  • * [1] Read more about these amendments [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_f7aeb948-26ed-4333-97dc-b13f4fa1f460%22;rec=0 here].
  • * [2] Read more about this bill being set aside [http://www.openaustralia.org/debates/?id=2014-09-01.34.2 here]. The division which resulted in that bill being laid aside is available [http://publicwhip-rails.openaustraliafoundation.org.au/division.php?date=2014-09-01&house=representatives&number=1 here].
  • * [3] Read more about the changes made in the bill in the [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_6cc22e3e-bdd9-4502-a40b-9e1ec81029c4%22 explanatory memorandum].
  • * [4] Read more about superannuation in Australia [http://en.wikipedia.org/wiki/Superannuation_in_Australia here].
senate vote 2014-09-02#5

Edited by mackay

on 2014-09-04 15:20:20

Title

Description

  • The majority voted in favour of [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Famend%2Fr5327_amend_3ea3a9ba-2299-4810-93d3-254da6fdbb2e%22;rec=0 government amendments], which means that they were successful. The amendments make the following changes. They:
  • * "further adjust the proposed amended timetable for increasing the superannuation guarantee (SG) charge percentage to 12 per cent by pausing the SG rate at 9.5 per cent for financial years up to and including 2020-21. The SG charge percentage will then increase by half a percentage point each year, until it reaches 12 per cent for years starting on or after 1 July 2025;
  • * change the repeal date for the low income superannuation contribution (LISC) so that it applies to concessional contributions made for the 2017-18 financial year and later financial years;
  • * change the repeal date for the income support bonus (ISB) to 31 December 2016 and make minor technical and consequential amendments as a result of the delayed repeal; and
  • * change the repeal date of the schoolkids bonus (SKB) to 31 December 2016, and apply an income test for payments of the bonus between Royal Assent of the Bill and the new repeal date."[1]
  • * "further adjust the proposed amended timetable for increasing the [http://en.wikipedia.org/wiki/Superannuation_in_Australia#Employer_contributions superannuation guarantee] (SG) charge percentage to 12 per cent by pausing the SG rate at 9.5 per cent for financial years up to and including 2020-21. The SG charge percentage will then increase by half a percentage point each year, until it reaches 12 per cent for years starting on or after 1 July 2025;
  • * change the repeal date for the [http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/ low income superannuation contribution] (LISC) so that it applies to concessional contributions made for the 2017-18 financial year and later financial years;
  • * change the repeal date for the [http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus income support bonus] (ISB) to 31 December 2016 and make minor technical and consequential amendments as a result of the delayed repeal; and
  • * change the repeal date of the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus] (SKB) to 31 December 2016, and apply an income test for payments of the bonus between [http://en.wikipedia.org/wiki/Royal_Assent Royal Assent] of the Bill and the new repeal date."[1]
  • ''Background to the bill''
  • This [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query%3DId%3A%22legislation%2Fbillhome%2Fr5327%22;rec=0 bill] was introduced following the [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5300 Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 (No. 2)] being laid aside because it could not "be progressed in its current form".[2]
  • This bill repeals the [http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax Minerals Resource Rent Tax] as well as related measures such as the [http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/ low income superannuation contribution], the [http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus income support bonus] and the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus]. The bill also revises the capital allowances for small business entities and the superannuation guarantee charge percentage increase.[3] Under the previous Labor government, the superannuation was set to increase to 12 per cent by 2019 (as of 1 July 2014, it is at 9.5 per cent).[4] However, this bill will push that rise up until 1 July 2025.
  • ''References''
  • * [1] Read more about these amendments [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_f7aeb948-26ed-4333-97dc-b13f4fa1f460%22;rec=0 here].
  • * [2] Read more about this bill being set aside [http://www.openaustralia.org/debates/?id=2014-09-01.34.2 here]. The division which resulted in that bill being laid aside is available [http://publicwhip-rails.openaustraliafoundation.org.au/division.php?date=2014-09-01&house=representatives&number=1 here].
  • * [3] Read more about the changes made in the bill in the [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_6cc22e3e-bdd9-4502-a40b-9e1ec81029c4%22 explanatory memorandum].
  • * [4] Read more about superannuation in Australia [http://en.wikipedia.org/wiki/Superannuation_in_Australia here].
senate vote 2014-09-02#5

Edited by mackay

on 2014-09-04 15:04:34

Title

  • Minerals Resource Rent Tax Repeal and Other Measures Bill 2014 - Reference to Committee - Adjustments to the changes made by the bill
  • Minerals Resource Rent Tax Repeal and Other Measures Bill 2014 Reference to Committee Adjustments to the changes made by the bill

Description

  • The majority voted in favour of [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Famend%2Fr5327_amend_3ea3a9ba-2299-4810-93d3-254da6fdbb2e%22;rec=0 government amendments], which means that they were successful. The amendments make the following changes:
  • The majority voted in favour of [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Famend%2Fr5327_amend_3ea3a9ba-2299-4810-93d3-254da6fdbb2e%22;rec=0 government amendments], which means that they were successful. The amendments make the following changes. They:
  • * "further adjust the proposed amended timetable for increasing the superannuation guarantee (SG) charge percentage to 12 per cent by pausing the SG rate at 9.5 per cent for financial years up to and including 2020-21. The SG charge percentage will then increase by half a percentage point each year, until it reaches 12 per cent for years starting on or after 1 July 2025;
  • * change the repeal date for the low income superannuation contribution (LISC) so that it applies to concessional contributions made for the 2017-18 financial year and later financial years;
  • * change the repeal date for the income support bonus (ISB) to 31 December 2016 and make minor technical and consequential amendments as a result of the delayed repeal; and
  • * change the repeal date of the schoolkids bonus (SKB) to 31 December 2016, and apply an income test for payments of the bonus between Royal Assent of the Bill and the new repeal date."[1]
  • ''Background to the bill''
  • This [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query%3DId%3A%22legislation%2Fbillhome%2Fr5327%22;rec=0 bill] was introduced following the [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5300 Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 (No. 2)] being laid aside because it could not "be progressed in its current form".[2]
  • This bill repeals the [http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax Minerals Resource Rent Tax] as well as related measures such as the [http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/ low income superannuation contribution], the [http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus income support bonus] and the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus]. The bill also revises the capital allowances for small business entities and the superannuation guarantee charge percentage increase.[3] Under the previous Labor government, the superannuation was set to increase to 12 per cent by 2019 (as of 1 July 2014, it is at 9.5 per cent).[4] However, this bill will push that rise up until 1 July 2025.
  • ''References''
  • * [1] Read more about these amendments [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_f7aeb948-26ed-4333-97dc-b13f4fa1f460%22;rec=0 here].
  • * [2] Read more about this bill being set aside [http://www.openaustralia.org/debates/?id=2014-09-01.34.2 here]. The division which resulted in that bill being laid aside is available [http://publicwhip-rails.openaustraliafoundation.org.au/division.php?date=2014-09-01&house=representatives&number=1 here].
  • * [3] Read more about the changes made in the bill in the [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_6cc22e3e-bdd9-4502-a40b-9e1ec81029c4%22 explanatory memorandum].
  • * [4] Read more about superannuation in Australia [http://en.wikipedia.org/wiki/Superannuation_in_Australia here].
  • * [4] Read more about superannuation in Australia [http://en.wikipedia.org/wiki/Superannuation_in_Australia here].
senate vote 2014-09-02#5

Edited by mackay

on 2014-09-04 15:03:52

Title

  • Bills — Minerals Resource Rent Tax Repeal and Other Measures Bill 2014; Reference to Committee
  • Minerals Resource Rent Tax Repeal and Other Measures Bill 2014 - Reference to Committee - Adjustments to the changes made by the bill

Description

  • <p class="speaker">Stephen Parry</p>
  • <p>Prior to putting the question, I want to clarify that there has been a typographical error on one of the sheets. The actual amendment sheet is GT108, so the one that has been circulated has GT108. The question is that the amendments on sheet GT108, circulated by the government, be agreed to.</p>
  • <p></p>
  • The majority voted in favour of [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Famend%2Fr5327_amend_3ea3a9ba-2299-4810-93d3-254da6fdbb2e%22;rec=0 government amendments], which means that they were successful. The amendments make the following changes:
  • * "further adjust the proposed amended timetable for increasing the superannuation guarantee (SG) charge percentage to 12 per cent by pausing the SG rate at 9.5 per cent for financial years up to and including 2020-21. The SG charge percentage will then increase by half a percentage point each year, until it reaches 12 per cent for years starting on or after 1 July 2025;
  • * change the repeal date for the low income superannuation contribution (LISC) so that it applies to concessional contributions made for the 2017-18 financial year and later financial years;
  • * change the repeal date for the income support bonus (ISB) to 31 December 2016 and make minor technical and consequential amendments as a result of the delayed repeal; and
  • * change the repeal date of the schoolkids bonus (SKB) to 31 December 2016, and apply an income test for payments of the bonus between Royal Assent of the Bill and the new repeal date."[1]
  • ''Background to the bill''
  • This [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query%3DId%3A%22legislation%2Fbillhome%2Fr5327%22;rec=0 bill] was introduced following the [http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5300 Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 (No. 2)] being laid aside because it could not "be progressed in its current form".[2]
  • This bill repeals the [http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax Minerals Resource Rent Tax] as well as related measures such as the [http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/ low income superannuation contribution], the [http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus income support bonus] and the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus]. The bill also revises the capital allowances for small business entities and the superannuation guarantee charge percentage increase.[3] Under the previous Labor government, the superannuation was set to increase to 12 per cent by 2019 (as of 1 July 2014, it is at 9.5 per cent).[4] However, this bill will push that rise up until 1 July 2025.
  • ''References''
  • * [1] Read more about these amendments [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_f7aeb948-26ed-4333-97dc-b13f4fa1f460%22;rec=0 here].
  • * [2] Read more about this bill being set aside [http://www.openaustralia.org/debates/?id=2014-09-01.34.2 here]. The division which resulted in that bill being laid aside is available [http://publicwhip-rails.openaustraliafoundation.org.au/division.php?date=2014-09-01&house=representatives&number=1 here].
  • * [3] Read more about the changes made in the bill in the [http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22legislation%2Fems%2Fr5327_ems_6cc22e3e-bdd9-4502-a40b-9e1ec81029c4%22 explanatory memorandum].
  • * [4] Read more about superannuation in Australia [http://en.wikipedia.org/wiki/Superannuation_in_Australia here].