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House of Representatives

Superannuation (Excess Concessional Contributions Charge) Bill 2013

Superannuation (Excess Concessional Contributions Charge) Act 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)

Glossary

The following abbreviations and acronyms are used throughout this explanatory memorandum.

Abbreviation Definition
AWOTE average weekly ordinary time earnings
Bill Tax Laws Amendment (Fairer Taxation of Excess Concessional Contributions) Bill 2013
Commissioner Commissioner of Taxation
GIC general interest charge
ITAA 1997 Income Tax Assessment Act 1997
RSA retirement savings account
SIC shortfall interest charge
TAA 1953 Taxation Administration Act 1953


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