Impact on tax and superannuation provisions indexed to average weekly ordinary time earnings

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.