Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Scott Morrison MP)Statement of Compatibility with Human Rights
Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011
Contributing the proceeds of downsizing to superannuation
2.96 This Schedule is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.
Overview
2.97 The Schedule allows an individual to use the proceeds in relation to one sale of their main residence to make contributions (downsizer contributions) of up to $300,000 to their superannuation provider if they are 65 years of age or over.
Human rights implications
2.98 The Schedule does not engage any of the applicable rights or freedoms.
Conclusion
2.99 This Schedule is compatible with human rights as it does not raise any human rights issues.