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24 Jun 08 2008 Measures No 2 Bill awaits Royal Assent

On 23 June 2008, the House of Representatives agreed with the amendments made by the Senate to Tax Laws Amendment (2008 Measures No 2) Bill 2008. The amendments added Schedule 12 (Austudy rent assistance) and Schedule 13 (Carer adjustment payments), both of which had been omitted from Tax Laws Amendment (2008 Measures No 3) Bill 2008 before passage by the House of Representatives: see 2008 TAXVINE No 22 (15) (6 June 2008). The Bill now awaits Royal Assent.

In a media release issued on 23 June 2008, the Minister for Superannuation and Corporate Law. Senator Sherry, welcomed the passage of the Bill, which (amongst other things) makes superannuation lump sum payments tax free when paid to individuals suffering from terminal medical conditions. For a copy of the Minister's media release, No 2008/36, go here

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