Second Reading Speech
Mr Ciobo (Moncrieff - Parliamentary Secretary to the Treasurer)The Superannuation (Departing Australia Superannuation Payments Tax) Amendment (Temporary Budget Repair Levy) Bill 2014 forms part of a package of Bill that ensures that tax rates set by reference to the top personal marginal tax rate, or by calculations comprising that rate, also reflect the introduction of the Temporary Budget Repair Levy.
This Bill contains consequential amendments to the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007.
These consequential amendments will maintain the integrity and fairness of the tax system, and minimise the opportunities for avoiding the levy.
Further details of the Bill are set out in the explanatory memorandum already tabled.
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