Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Schedules............................................................................................ 2

4............ Review of operation of amendments................................................... 3

Schedule 1--First home super saver scheme                                                         4

Part 1--Determinations and release authorities                                               4

Division 1--First home super saver determinations                                              4

Taxation Administration Act 1953                                                                           4

Division 2--Release authorities                                                                              11

Taxation Administration Act 1953                                                                         11

Part 2--Tax consequences of scheme                                                                 12

Income Tax Assessment Act 1997                                                                            12

Taxation Administration Act 1953                                                                         21

Part 3--Other amendments                                                                                      23

Division 1--Definitions                                                                                             23

Income Tax Assessment Act 1997                                                                            23

Division 2--Income tests                                                                                         24

A New Tax System (Family Assistance) Act 1999                                                24

Child Support (Assessment) Act 1989                                                                    24

Higher Education Support Act 2003                                                                     24

Income Tax Assessment Act 1936                                                                            25

Income Tax Assessment Act 1997                                                                            25

Social Security Act 1991                                                                                          25

Student Assistance Act 1973                                                                                   26

Superannuation (Government Co-contribution for Low Income Earners) Act 2003         26

Veterans' Entitlements Act 1986                                                                            26

Schedule 2--Contributing the proceeds of downsizing to superannuation            27

Income Tax Assessment Act 1997                                                                            27

Taxation Administration Act 1953                                                                         31

 

 

Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Act 2017

No. 132, 2017

 

An Act to amend the law relating to taxation, and for related purposes

[Assented to 13 December 2017]

The Parliament of Australia enacts: