Second Reading Speech
Mr SUKKAR (Deakin - Assistant Minister to the Treasurer)I move:
That this bill be now read a second time.
This bill is a part of implementing the First Home Super Saver measure in schedule 1 of the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No.1) Bill 2017.
The bill imposes the First Home Super Saver Scheme tax. This tax is intended to remove the incentive to withdraw money using the scheme without ultimately buying a first home or recontributing to superannuation.
Full details of the measure are contained in the explanatory memorandum to the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No.1) Bill 2017.
Debate adjourned.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).