Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) Bill 2023

The majority voted against amendments introduced by Petrie MP Luke Howarth (Liberal), which means they failed.

What do schedules 1-3 do?

According to the bills digest:

Schedules 1-3 of the Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) Bill 2023 amend a number of Commonwealth statutes to reduce the tax concessions available to individuals with a total superannuation balance of more than $3 million.

Amendment text

(1) Clause 2, page 2 (table items 2 and 3), omit the table items.

(2) Schedule 1, page 4 (line 1) to page 51 (line 25), omit the Schedule.

(3) Schedule 2, page 52 (line 1) to page 55 (line 24), omit the Schedule.

(4) Schedule 3, page 56 (line 1) to page 57 (line 6), omit the Schedule.