Federal Parliament has gone into a short recess before resuming on June 13 for the final two weeks of the current session, with a large amount of Budget-related legislation to deal with before the end of the financial year.
Bills that are still working their way through the Parliament include the 12-month extension of the instant business asset write-off, the lower business tax rate extension to all corporate entities and measures affecting foreign investors.
Importantly, there are several amendments to superannuation reforms in the pipeline.
On May 30 the Senate Economics Legislation Committee released a report on Treasury Laws Amendment (2017 Measures No 2) Bill 2017, finding that there were no substantive issues to be examined.
Measures in the bill include changes to limited recourse borrowing arrangements, which are designed to stop self-managed super fund trustees using loans as a way of getting around the new pension limits.
The bill also contains rules affecting transition to retirement income streams, capital gains tax relief, concessional and non-concessional contribution caps and the objectives of superannuation.