House of Representatives
Treasury Laws Amendment (2017 Measures No. 2) Bill 2017
Explanatory Memorandum
(Circulated by authority of the Acting Minister for Revenue and Financial Services, Senator the Hon Mathias Cormann)Index
Schedule 1: Superannuation reform package amending provisions
| Bill reference | Paragraph number |
| Item 1, section 291-1 | 1.107 |
| Item 2, paragraph 291-370(1)(c) | 1.116 |
| Items 3 and 6, item 4 in the table in subsection 294-25(1) and subsections 294-55(2) and (3) | 1.88 |
| Items 3 and 6, item 4 in the table in subsection 294-25(1) and subsection 294-55(1) | 1.94 |
| Items 3 and 8, item 5 in the table in subsection 294-25(1) and item 8 in the table in subsection 294-80(1) | 1.41 |
| Items 3 and 6, item 4 in the table in subsection 294-25(1) and subsection 294-55(1) | 1.85 |
| Items 4 and 9, subsection 294-25(3) and subsection 294-80(3) | 1.44 |
| Item 5, subsection 294-50(2) | 1.53 |
| Item 5, subsection 294-50(3) | 1.58 |
| Item 5, subsection 294-50(1) | 1.61 |
| Item 5, section 294-50 | 1.47, 1.52 |
| Item 6, paragraph 294-55(1)(c) and subsection 294-55(4) | 1.95 |
| Item 7, item 6 in the table in subsection 294-80(1) | 1.73 |
| Items 10 and 11, subsection 303-4(2) | 1.99 |
| Item 13, subsection 307-80(3) | 1.127 |
| Item 15, subsection 995-1(1) (definition of basic concessional contributions cap) | 1.113 |
| Items 16 and 22, section 291-170 of the Income Tax (Transitional Provisions) Act 1997 and subsection 15(5) (definition of concessional contributions cap) of the Superannuation Guarantee (Administration) Act 1992 | 1.110 |
| Item 17, section 294-80 of the Income Tax (Transitional Provisions) Act 1997 | 1.79 |
| Item 18, paragraph 294-110(1)(b) of the Income Tax (Transitional Provisions) Act 1997 | 1.134 |
| Item 19, subsection 294-125(1) of the Income Tax (Transitional Provisions) Act 1997 | 1.149 |
| Item 19, subsection 294-125(2) of the Income Tax (Transitional Provisions) Act 1997 | 1.150 |
| Item 19, subsection 294-130(1) of the Income Tax (Transitional Provisions) Act 1997 | 1.154 |
| Item 19, subsection 294-130(2) of the Income Tax (Transitional Provisions) Act 1997 | 1.155 |
| Item 19, subsection 294-130(3) of the Income Tax (Transitional Provisions) Act 1997 | 1.156 |
| Item 19, paragraph 294-130(4)(a) of the Income Tax (Transitional Provisions) Act 1997 | 1.160 |
| Item 19, paragraphs 294-130(4)(b), (c) and (d) of the Income Tax (Transitional Provisions) Act 1997 | 1.162 |
| Item 19, definition of '2016-17 non-exempt proportion' in subsection 294-130(7) of the Income Tax (Transitional Provisions) Act 1997 | 1.164 |
| Item 19, subsection 294-130(5) of the Income Tax (Transitional Provisions) Act 1997 | 1.165 |
| Item 19, paragraph 294-130(5)(a) of the Income Tax (Transitional Provisions) Act 1997 | 1.166 |
| Item 19, paragraph 294-130(5)(b) of the Income Tax (Transitional Provisions) Act 1997 | 1.167 |
| Item 19, paragraph 294-130(5)(c) of the Income Tax (Transitional Provisions) Act 1997 | 1.168 |
| Item 19, subsection 294-130(6) of the Income Tax (Transitional Provisions) Act 1997 | 1.169 |
| Items 20 and 21, paragraph 15J(2)(fa) of the Legislation Act 2003 | 1.123 |
| Item 23, paragraph 286-80(2)(a) of Schedule 1 to the Taxation Administration Act 1953 | 1.173 |
| Item 24, section 298-10 of Schedule 1 to the Taxation Administration Act 1953 | 1.176 |
| Items 25 to 27, item 9 of Schedule 3 to the Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016 | 1.119, 1.121 |
| Item 28, item 28 of Schedule 8 to the Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016 | 1.103 |
| Item 30, subsection 294-10(2) of the Income Tax (Transitional Provisions) Act 1997 | 1.46, 1.70, 1.77 |
| Item 31 | 1.87 |
| Subitem 32(1) | 1.109, 1.115 |
| Subitem 32(3) | 1.133 |
| Subitem 32(4) | 1.175 |
| Subitem 32(2) | 1.102, 1.118 |
Schedule 2: Insolvency laws amendment
| Bill reference | Paragraph number |
| Item 1 paragraphs 60-20(4)(a) to (c) of Schedule 2 to the Bankruptcy Act; item 2 subsection 60-20(4A) of Schedule 2 to the Bankruptcy Act; item 6, paragraphs 60-20(4)(a) to (c) of Schedule 2 to the Corporations Act; and item 7, subsection 60-20(4A) of Schedule 2 to the Corporations Act | 2.12 |
| Item 3 paragraph 411(9)(a) of the Corporations Act | 2.18 |
| Item 4 subparagraph 1274(2)(a)(iab) of the Corporations Act | 2.14 |
| Item 5 section 40-110 of Schedule 2 of the Corporations Act | 2.19 |
| Item 8 subsection 70-6(4) of Schedule 2 of the Corporations Act | 2.20 |