House of Representatives
Superannuation (Excess Concessional Contributions Charge) Bill 2013
Tax Laws Amendment (Fairer Taxation of Excess Concessional Contributions) Bill 2013
Explanatory Memorandum
(Circulated by the authority of the Minister for Employment and Workplace Relations and Minister for Financial Services and Superannuation, the Hon Bill Shorten MP)Index
Tax Laws Amendment (Fairer Taxation of Excess Concessional Contributions) Bill 2013
Schedule 1: Fairer taxation of excess concessional contributions
| Bill reference | Paragraph number |
| Part 1, item 1, section 291-15 | 1.24, 1.30 |
| Part 1, item 1, sections 291-465 and 292-465 of the ITAA 1997 | 1.27 |
| Part 1, item 2, subsection 96-5(4) of Schedule 1 to the TAA 1953 | 1.60, 1.61 |
| Part 1, item 2, sections 96-10 and 96-15 of Schedule 1 to the TAA 1953 | 1.64 |
| Part 1, item 2, subsections 96-15(5) and (6) of Schedule 1 to the TAA 1953 | 1.63 |
| Part 1, item 2, subsection 96-15(7) of Schedule 1 to the TAA 1953 | 1.62 |
| Part 1, items 2 and 25, section 96-20 and 96-35 of Schedule 1 to the TAA 1953 and subsection 995-1 of the ITAA 1997 | 1.65 |
| Part 1, item 2, sections 96-20 and 96-25 of Schedule 1 to the TAA 1953 | 1.68 |
| Part 1, item 2, sections 96-20 and 96-35 of Schedule 1 to the TAA 1953 | 1.69 |
| Part 1, item 2, sections 96-35 and 96-45 of Schedule 1 to the TAA 1953 | 1.70 |
| Part 1, item 2, section 96-45 of Schedule 1 to the TAA 1953 | 1.67 |
| Part 1, item 2, section 96-50 of Schedule 1 to the TAA 1953 | 1.72 |
| Part 1, item 2, section 96-60 of Schedule 1 to the TAA 1953 | 1.71 |
| Parts 2 and 3, items 2 and 34, sections 95-10 and subsection 280-100(4) of Schedule 1 to the TAA 1953 | 1.37 |
| Parts 2, 3 and 6, items 3 to 11, 13, 14, 36, 94, 97, 98 and 100, paragraph 332(4)(b) of the Fair Work Act 2009 , note 2 to subsection 312-10(10), table item 9 in section 960-265, paragraphs 292-320(2)(b) and (c), definition of concessional contributions, concessional contributions cap, defined benefit interest, excess concessional contributions and notional taxed contributions in subsection 995-1(1) and subsection 293-30(5) of the ITAA 1997, sections 291-20 and 292-20 of the Income Tax (Transitional Provisions) Act 1997 , item 19 of Schedule 1 (heading) to the Superannuation Laws Amendment (MySuper Capital Gains Tax Relief and Other Measures) Bill 2013, paragraphs 24B(1)(c) and (2)(d) of the Superannuation (Unclaimed Money and Lost Members) Act 1999, and paragraph 390-5(9A)(b) in Schedule 1 to the TAA 1953 | 1.87 |
| Part 2, item 2, sections 95-25 | 1.45 |
| Part 2, items 2 and 25, section 97-5 of Schedule 1 to the TAA 1953 and section 995-1 of the ITAA 1997 | 1.49 |
| Part 2, item 2, section 97-5 of Schedule 1 to the TAA 1953 | 1.48 |
| Part 2, item 2, subsection 97-5(5) of Schedule 1 to the TAA 1953 | 1.50 |
| Part 2, item 2, section 97-10 of Schedule 1 to the TAA 1953 | 1.51 |
| Part 2, item 2, section 95-15 of Schedule 1 to the TAA 1953 | 1.36 |
| Part 2, item 2, section 95-20 of Schedule 1 to the TAA 1953 | 1.40, 1.41 |
| Part 2, item 2, subsection 95-20(2) of Schedule 1 to the TAA 1953 | 1.42 |
| Part 2, items 2, 33 and 34, section 95-25 and subsections 250-10(2) and 280-100(4) of Schedule 1 to the TAA 1953 | 1.43 |
| Part 2, item 12, section 292-25 of the Income Tax (Transitional Provisions) Act 1997 | 1.96 |
| Part 2, item 33, subsection 250-10(2) of Schedule 1 to the TAA 1953 | 1.46 |
| Part 3, item 16, paragraph(e) of Schedule 1 to Administrative Decisions (Judicial Review) Act 1977 | 1.55 |
| Parts 3, 4 and 6, items 18, 21 to 23, 27, 28, 85, 86, 93, 95 and 96, table item 14 in section 67-23, subsections 61-570(3), 290-160(3) and 290-230(5), and sections 293-35 and 293-110 of the ITAA 1997, subsections 6(3) and 8(1A) of the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 , paragraph 14ZW(1)(aac), subsection 280-100(4) of Schedule 1 to the TAA 1953 and paragraph (ca) of the definition of 'decision to which this Act applies', and paragraph (c) of the definition of 'income tax crediting amount' in subsection 3(1) of the Taxation (Interest on Overpayments and Early Payments) Act 1983 | 1.91 |
| Parts 3, 4 and 6, items 16, 17, 38 to 40 and 88, table item headed 'superannuation' in section 10-5, table item headed 'excess contributions tax' in section 12-5, table item headed 'superannuation' in section 13-1 and section 26-75 of the ITAA 1997 | 1.89 |
| Parts 3 and 4, items 33 and 82, subsection 250-10(2) (table items 38A and before table item 136) in Schedule 1 to the TAA 1953 | 1.93 |
| Part 3, item 23, subsection 292-90(1A) of the ITAA 1997 | 1.75 |
| Part 3, item 24, section 303-15 of the ITAA 1997 | 1.58 |
| Part 3, items 25 and 29, definition of excess concessional contributions charge, excess concessional contributions determination and maximum available release amount in subsection 995-1(1) of the ITAA 1997 and definition of excess concessional contributions and excess concessional contributions determination in subsection 2(1) of the TAA 1953 | 1.94 |
| Part 3, item 26, definition of reportable superannuation contributions in subsection 995-1 of the ITAA 1997 | 1.90 |
| Part 3, item 30, subsection 8AAB(4) (before table item 45) of the TAA 1953 | 1.92 |
| Part 3, item 31, section 14ZVB and paragraph 14ZW(1)(aac) of Schedule 1 to the TAA 1953 | 1.53 |
| Part 4, items 38 to 41, 43 to 45, 48 to 49, 54 to 55, 63, 68, 71 and 74 to 76, sections 12-5, 13-1,26-74, 26-75, 292-5, 292-230, 292-235, 292-305, 292-310, 292-405, 292-420, 292-425, 292-465, 292-467 to 292-469 and 995-1 and Subdivisions 292-B and 292-D | 1.25 |
| Parts 4, items 42, 46, 47, 50 to 62, 64-66, 69, 70, 72 to 73, 76 to 82, 83, 84, 103, 106 to 109, table item 10 in section 960-265, heading to Division 292, headings to Subdivisions 292-E and 292-F, headings to section 292-385, note to subsection 292-410(1), definition of excess contributions tax assessment, excess non-concessional contributions tax assessment, original excess contributions tax assessment day and original excess non-concessional contributions tax assessment day in subsection 995-1(1), paragraphs 292-320(1)(a), 292-465(2)(b) and (9)(a), subsections 292-305(1) and (2), 292-310(1) -(3), and 292-315(1), sections 292-225, 292-240, 292-245, 292-250, 292-300, 292-325, 292-330, 292-380, 292-385, 292-390 and 292-395,subsections 292-415(1) and (3), and 304-15(3) of the ITAA 1997, heading to Division 292 of the Income Tax (Transitional Provisions) Act 1997 and cell at table item 15, column 3 of subsection 8AAB(4), heading to section 280-102A, section 280-102A, paragraph 280-105(1)(a) and table items 38BA and 37AB (column headed 'Topic') in subsection 250-10(2) in Schedule 1 to the TAA 1953 | 1.95 |
| Part 4, items 74 to 76, 78, definitions of excess contributions tax, excess concessional contributions tax assessment, original excess contributions tax assessment day and excess concessional contributions tax in subsection 995-1(1) of the ITAA 1997 | 1.88 |
| Part 7, items 110 and 111, section 291-10 of the Income Tax (Transitional Provisions) Act 1997 and Subclause 2(1) | 1.79 |
| Part 7, items 112 to 114 and 119 | 1.83 |
| Part 7, items 115 to 119 | 1.84 |
Superannuation (Excess Concessional Contributions Charge) Bill 2013
| Bill reference | Paragraph number |
| Part 2, item 2, section 95-15 of Schedule 1 to the TAA 1953 and clauses 4 and 5 of the Superannuation (Excess Concessional Contributions Charge) Bill 2013 | 1.38 |
| Superannuation (Excess Concessional Contributions Charge) Bill 2013 | 1.47 |