Debate in the Senate on the Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 [No 2] resumed on Mon 14.7.2014] but was not concluded and resumed on Tue 15.7.2014.
- The Government proposes to move an amendment to the Bill that would alter the proposed amended schedule or timetable for increasing the superannuation guarantee (SG) rate to 12%. Under the amendment, the superannuation guarantee rate would increase from 9.25% to 9.5% from 1 July 2014 as currently legislated. The rate would then remain at 9.5% until 30 June 2018 and then increase by 0.5 percentage points each year until it reaches 12% from 1 July 2022. Senators Madigan and Xenophon also oppose the changes to the SGC
- It is understood the Palmer United Party (PUP), the Greens and Senators Madigan and Xenophon intend to oppose abolition of the low income superannuation contribution.
- PUP also intends to oppose abolition of the income support bonus and the schoolkids bonus..
[LTN 134, 15/7/14]