Division Description Changes — Bills — Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Bill 2017, First Home Super Saver Tax Bill 2017; Second Reading — 5th Dec 2017

Change	Division
senate vote 2017-12-05#1 Edited by mackay staff on 2017-12-17 14:00:38	Title Bills — Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Bill 2017, First Home Super Saver Tax Bill 2017; Second Reading Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Bill 2017, First Home Super Saver Tax Bill 2017 - Second Reading - Agree with main idea Description <p class='motion-notice motion-notice-truncated'>Long debate text truncated.</p> The majority agreed with the bills' main idea, which means they can now discuss them in more detail. In parliamentary jargon, they voted to read the bills for a [second time](https://www.peo.gov.au/learning/fact-sheets/making-a-law.html). ### What is the bills' main idea? The bills were introduced to establish the First Home Super Saver Scheme. Together they will: * enable first home savers to make voluntary contributions into the superannuation system and to withdraw those contributions and associated earnings for the purposes of purchasing their first home; *** allow an individual aged 65 years or over to use the proceeds of one sale of their main residence to make contributions (downsizer contributions) of up to $300 000 to their superannuation; and * impose a first home super saver tax on individuals who have not entered into a contract to purchase or construct their first home or recontributed the required amount into superannuation. Read more about the bills and their purpose in the [bills digest](https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd1718a/18bd043).**

Bills — Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Bill 2017, First Home Super Saver Tax Bill 2017; Second Reading
Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Bill 2017, First Home Super Saver Tax Bill 2017 - Second Reading - Agree with main idea

<p class='motion-notice motion-notice-truncated'>Long debate text truncated.</p>
The majority agreed with the bills' main idea, which means they can now discuss them in more detail. In parliamentary jargon, they voted to read the bills for a [second time](https://www.peo.gov.au/learning/fact-sheets/making-a-law.html).
### What is the bills' main idea?
The bills were introduced to establish the First Home Super Saver Scheme. Together they will:
* *enable first home savers to make voluntary contributions into the superannuation system and to withdraw those contributions and associated earnings for the purposes of purchasing their first home;*
* *allow an individual aged 65 years or over to use the proceeds of one sale of their main residence to make contributions (downsizer contributions) of up to $300 000 to their superannuation; and*
* *impose a first home super saver tax on individuals who have not entered into a contract to purchase or construct their first home or recontributed the required amount into superannuation.*
Read more about the bills and their purpose in the [bills digest](https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd1718a/18bd043).