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TOTAL RESULTS: 208

• Trade Support Loans Amendment Bill 2023

  Track (What's this?)

  Date

  25 May 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Employment and Workplace Relations 

  Summary

  Introduced with the Student Loans (Overseas Debtors Repayment Levy) Amendment Bill 2023, the bill amends the

  Trade Support Loans Act 2014

  to: cause the Trade Support Loans Priority List to lapse; enable the minister to determine a new Australian Apprenticeships Priority List; provide that a qualifying apprenticeship is, among other things, an apprenticeship through which a person is undertaking a qualification that leads to an occupation or qualification specified on the Australian Apprenticeships Priority List; amend the title of the Act to the

  Australian Apprenticeship Support Loans Act 2014

  ; and enable the secretary to extend the day by which an application for a particular payment instalment period may be made. Also makes consequential amendments to 5 Acts. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2022 Measures No. 1) Bill 2022

  Track (What's this?)

  Date

  27 Jul 2022 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  to provide an income tax exemption for certain recovery grants made to small businesses and primary producers impacted by Cyclone Seroja in April 2021;

  Treasury Laws Amendment (Putting Consumers First—Establishment of the Australian Financial Complaints Authority) Act 2018

  to facilitate the closure and transitional arrangements associated with the Australian Financial Complaints Authority (AFCA) replacing the Superannuation Complaints Tribunal (SCT);

  Income Tax Assessment Act 1936

  and

  Income Tax Assessment Act 1997

  to provide income tax and withholding tax exemptions for the International Federation of Association Football (FIFA) and its wholly owned subsidiary established for the purpose of delivering the 2023 FIFA Women's World Cup. Also makes minor and technical amendments to 12 Acts. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2022 Measures No. 2) Bill 2022

  Track (What's this?)

  Date

  03 Aug 2022 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Taxation Administration Act 1953

  to: require electronic platform operators to provide information on transactions to the Australian Taxation Office; enable small business entities to apply to the Administrative Appeals Tribunal (AAT) for an order staying, or otherwise affecting, the operation or implementation of decisions of the Commissioner of Taxation being reviewed by the AAT; and enable the commissioner to direct an entity to complete an approved recordkeeping course as an alternative to financial penalties where they reasonably believe the entity has failed to comply with its tax-related recordkeeping obligations;

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to make consequential amendments;

  Fringe Benefits Tax Assessment Act 1986

  ,

  Income Tax Assessment Act 1936

  and

  Income Tax Assessment Act 1997

  to remove the $250 non-deductible threshold for work-related self-education expenses; and

  Income Tax Assessment Act 1997

  to enable individuals aged 55 and above to make downsizer contributions to their superannuation plan from the proceeds of selling their main residence. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2022 Measures No. 3) Bill 2022

  Track (What's this?)

  Date

  08 Sep 2022 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Foreign Acquisitions and Takeovers Fees Imposition Amendment Bill 2022 and Income Tax Amendment (Labour Mobility Program) Bill 2022, the bill amends the:

  Foreign Acquisitions and Takeovers Act 1975

  to double the maximum financial penalties for contraventions of provisions that relate only to residential land;

  National Emergency Declaration Act 2020

  and

  Taxation Administration Act 1953

  to enable the disclosure of protected information to Australian government agencies for the purpose of administering major disaster support programs approved by the minister;

  Coronavirus Economic Response Package Omnibus (Measures No. 2) Act 2020

  to extend the temporary mechanism which enables ministers to make alternative arrangements for meeting information and documentary requirements;

  Income Tax Assessment Act 1936

  and three other taxation Acts to reduce the tax on certain income earned by foreign resident workers participating in the Pacific Australia Labour Mobility scheme from 32.5 per cent to 15 per cent; and

  Superannuation Industry (Supervision) Act 1993

  to provide for a supplementary annual performance test for faith-based products. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2022 Measures No. 4) Bill 2022

  Track (What's this?)

  Date

  23 Nov 2022 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  to: provide for a 30% refundable tax offset in relation to the development of digital games in Australia; and update the list of deductible gift recipients;

  A New Tax System (Goods and Services Tax) Act 1999

  ,

  A New Tax System (Goods and Services Tax) Regulations 2019

  and

  Income Tax Assessment Act 1997

  to clarify that certain digital currencies continue to be excluded from the income tax treatment of foreign currency;

  Fringe Benefits Tax Assessment Act 1986

  to enable the commissioner to determine alternative records which may be kept and retained by employers for fringe benefit tax record keeping purposes;

  Income Tax (Transitional Provisions) Act 1997

  to provide for temporary measures allowing certain small businesses to access 20% bonus deductions for eligible expenditure incurred on external training for employees, and expenses and depreciating assets for the purpose of digitising operations;

  Corporations Act 2001

  ,

  Australian Securities and Investments Commission Act 2001

  and

  Superannuation Industry (Supervision) Act 1993

  to extend existing reporting and auditing requirements to registerable superannuation entities;

  Clean Energy Finance Corporation Act 2012

  to: amend the definition of 'responsible ministers' and specify that the minister administering the Act is also the nominated minister unless determined otherwise in writing; credit the Clean Energy Finance Corporation (CEFC) Special Account with $11.5 billion after commencement of the amendments; and enable additional amounts to be credited to the CEFC Special Account through additional appropriations of the Parliament; and

  Income Tax Assessment (1997 Act) Regulations 2021

  ,

  Income Tax Assessment Act 1997

  and

  Income Tax (Transitional Provisions) Act 1997

  to: amend the definition of 'superannuation income stream'; provide a non-refundable tax offset for certain members of the Military Superannuation Benefits Scheme and Defence Force Retirement and Death Benefits Scheme; and specify eligibility criteria and a framework for a veterans’ superannuation (invalidity pension) tax offset. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2022 Measures No. 5) Bill 2022

  Track (What's this?)

  Date

  30 Nov 2022 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Income Tax Assessment Act 1997

  to update the list of deductible gift recipients. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2023 Law Improvement Package No. 1) Bill 2023

  Track (What's this?)

  Date

  14 Jun 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Australian Securities and Investments Commission Act 2001

  ,

  Corporations Act 2001

  and 42 other Acts to implement certain recommendations of the Australian Law Reform Commission’s Financial Services Interim Reports A and B to: ‘unfreeze’ the

  Acts Interpretation Act 1901

  so that the current version applies to the

  Australian Securities and Investments Commission Act 2001

  and

  Corporations Act 2001

  ; create a single glossary of defined terms in the

  Corporations Act 2001

  ; repeal redundant definitions; address unclear or incorrect provisions; simplify unnecessarily complex provisions; and make consequential and contingent amendments;

  Insurance Acquisitions and Takeovers Act 1991

  ,

  Insurance Act 1973

  ,

  Insurance Contracts Act 1984

  ,

  Life Insurance Act 1995

  and

  Terrorism and Cyclone Insurance Act 2003

  to implement findings of the thematic review of insurance instruments due to sunset on 1 October 2023;

  Corporations Act 2001

  and

  National Consumer Credit Protection Act 2009

  to move certain matters currently in legislative instruments into primary law. Also makes minor and technical amendments to 10 Acts in the Treasury portfolio and repeals the

  ASIC Corporations (Superannuation and Schemes: Underlying Investments) Instrument 2016/378

  . 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2023 Measures No. 1) Bill 2023

  Track (What's this?)

  Date

  16 Feb 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Corporations Act 2001

  to: allow the Australian Securities and Investments Commission (ASIC) to approve applications from one or more licensees to register on the Financial Advisers Register the same relevant provider; and allow assisted decision-making to be used for any purpose for which ASIC may make decisions in the performance or exercise of its functions or powers to register a relevant provider;

  Australian Securities and Investments Commission Act 2001

  to: provide the Australian Accounting Standards Board with functions to develop and formulate sustainability standards; expand the Auditing and Assurance Standards Board's functions to include formulating auditing and assurance standards for sustainability purposes; and expand the Financial Reporting Council's oversight and governance powers to account for the development of sustainability standards;

  Tax Agent Services Act 2009

  to implement certain recommendations of the Review of the Tax Practitioners Board (TPB) by: amending the objects clause of the Act; creating a special account for the TPB; requiring tax practitioners not to employ or use a disqualified entity without the TPB's approval, or enter an arrangement with a disqualified entity; converting the registration period from at least every three years to at least every year; and enabling the minister to supplement the existing Code of Professional Conduct;

  Income Tax Assessment Act 1936

  and

  Income Tax Assessment Act 1997

  to align the income tax treatment of off-market share buy-backs undertaken by listed public companies with on-market share buy-backs; and

  Income Tax Assessment Act 1997

  to: ensure the alignment of tax treatment across capital management activities for listed public companies; and prevent certain distributions that are funded by capital raisings from being frankable. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2023 Measures No. 2) Bill 2023

  Track (What's this?)

  Date

  10 May 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999

  and

  Medicare Levy Act 1986

  to: increase the Medicare levy and Medicare levy surcharge low-income threshold amounts for individuals, families and individual taxpayers and families eligible for the seniors and pensioners tax offset; and increase the phase-in limits as a result of the increased threshold amounts;

  Commonwealth Banks Act 1959

  to provide that the existing Commonwealth guarantee for pre-privatisation members of the Commonwealth Bank superannuation fund will continue to apply if the fund merges with another superannuation fund;

  Income Tax Assessment Act 1997

  to enable eligible primary producers to treat certain carbon abatement income as primary production income for the purposes of the Farm Management Deposit Scheme and accessing income tax averaging arrangements for primary producers;

  Taxation Administration Act 1953

  to reduce the gross domestic product adjustment factor for the 2023-24 financial year to 6 per cent; and

  National Housing Finance and Investment Corporation Act 2018

  to expand the objects of the Act to include assisting earlier access to the housing market for eligible individuals who have not held an ownership interest in real property in Australia in the preceding 10 years and single legal guardians of children. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2023 Measures No. 3) Bill 2023

  Track (What's this?)

  Date

  14 Jun 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Corporations Act 2001

  to: prohibit schemes designed to avoid the application of a product intervention order relating to a credit facility; remove tertiary education requirements for financial advisers with 10 or more years’ experience and a clean disciplinary record; address certain limitations in the education requirements for new entrants into the financial advice profession and financial advisers who are registered tax agents; make amendments contingent on the commencement of the

  Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023

  and

  Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023

  ;

  Australian Securities and Investments Commission Act 2001

  and

  Corporations Act 2001

  to enable the Australian Securities and Investment Commission to implement and enforce requirements on a monopoly provider of clearing and settlement (CS) services to achieve competitive outcomes;

  Competition and Consumer Act 2010

  to provide the Australian Competition and Consumer Commission with the power to conduct binding arbitration to resolve disputes regarding access to certain CS services; and

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to: increase the discretion of the Commissioner of Taxation to amend and revoke First Home Super Saver (FHSS) Scheme applications; enable individuals to withdraw or amend their FHSS Scheme applications before receiving a FHSS Scheme amount, and enabling those who withdraw to re-apply for FHSS Scheme releases in the future; enable the Commissioner of Taxation to return any FHSS Scheme amounts to superannuation funds, provided the amount has not yet been released to the individual; and clarify that FHSS Scheme amounts returned to superannuation funds do not count towards individuals’ contribution caps. 

  Bill | Explanatory Memorandum