18 Apr 13 Impact on tax and super provisions indexed to AWOTE
Treasury advises that it is proposed to update a number of taxation and superannuation thresholds to reflect changes made by the Australian Bureau of Statistics (ABS) to the reporting frequency of Average Weekly Ordinary Time Earnings (AWOTE).
Amendments are proposed to update taxation and superannuation thresholds that reference the March AWOTE quarter to instead reference the preceding December quarter. These changes are as a result of changes made by the ABS to the reporting frequencies of AWOTE.
Treasury has released a Proposals Paper for consultation. The closing date for submissions is Friday 26 April 2013.