A budget, an election and the legislation that hasn’t made it through.

The February 2019 Parliamentary sitting days were the last opportunity before the Federal Budget for the Government to introduce or push through new legislation. Next month, on 2 April, Parliament reconvenes for the Federal Budget and it’s likely that an election will be called very soon after that (18 May 2019 is the last possible date for the election of the House of Representatives). Any legislation that has not passed when the election is called basically goes back to the drawing board and may never be enacted.

With the focus of politicians firmly on the impending election and the asylum seeker debate, and the Government now in an untenable position following the loss of its majority in the lower house, tidying up outstanding business legislation was not the priority in February, and as a result, several key pieces of legislation are in limbo.

Extension of the $20k instant asset write-off

Removing the CGT main residence exemption for non-residents

Employer Superannuation Guarantee amnesty

SMSF membership limit changes

Superannuation guarantee and salary sacrifice

Craft beer excise changes

Future Drought Fund

Curbing payday loans and rent-to-buy schemes