Assented Bills of the current Parliament

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TOTAL RESULTS: 380

  • Tax Laws Amendment (Small Business Measures No. 2) Bill 2015

    Track (What's this?)

    Date
    28 May 2015 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the:
    Income Tax Assessment Act 1997
    and
    Income Tax (Transitional Provisions) Act 1997
    to temporarily increase the threshold under which certain depreciating assets, costs incurred in relation to depreciating assets and general small business pools can be written off; and
    Income Tax Assessment Act 1997
    to: make consequential amendments; enable primary producers to claim an immediate deduction for capital expenditure on water facilities and fencing assets; and deduct capital expenditure on fodder storage assets over three years. 

    Bill | Explanatory Memorandum

  • Tax Laws Amendment (Small Business Measures No. 1) Bill 2015

    Track (What's this?)

    Date
    28 May 2015 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the:
    Income Tax Rates Act 1986
    to reduce the company tax rate from 30 per cent to 28.5 per cent for companies that are small business entities with an aggregated turnover of less than $2 million; and
    Income Tax Assessment Act 1936
    ,
    Income Tax Assessment Act 1997
    ,
    Income Tax Rates Act 1986
    and proposed
    Tax and Superannuation Laws Amendment (2015 Measures No. 1) Act 2015
    to make consequential amendments. 

    Bill | Explanatory Memorandum

  • Tax Laws Amendment (Research and Development) Bill 2013

    Track (What's this?)

    Date
    14 Nov 2013 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the:
    Income Tax Assessment Act 1997
    to deny access to the research and development tax incentive for companies with aggregated assessable income of $20 billion or more for an income year; and
    Industry Research and Development Act 1986
    to provide that the conditions for eligibility of research and development activities conducted outside Australia continue to operate as intended. 

    Bill | Explanatory Memorandum

  • Tax Laws Amendment (Norfolk Island CGT Exemption) Bill 2016

    Track (What's this?)

    Date
    11 Feb 2016 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the
    Income Tax (Transitional Provisions) Act 1997
    to exempt assets held by Norfolk Island residents before 24 October 2015 from capital gains tax; and the
    Income Tax Assessment Act 1997
    to make consequential amendments. 

    Bill | Explanatory Memorandum

  • Tax Laws Amendment (New Tax System for Managed Investment Trusts) Bill 2015

    Track (What's this?)

    Date
    03 Dec 2015 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Part of a package of four bills to establish a new tax system for certain managed investment trusts, the bill amends the:
    Income Tax Assessment Act 1997
    and
    Taxation Administration Act 1953
    to establish the new class of attribution managed investment trusts (AMIT); and enable the Commissioner of Taxation to determine an amount of non-arm’s length income in relation to a managed investment trust (MIT);
    Income Tax Assessment Act 1997
    to provide that a member of an AMIT will make a capital gain or capital loss when a capital gains tax event happens to their membership interests;
    Income Tax Assessment Act 1936
    ,
    Income Tax Assessment Act 1997
    and
    Taxation Administration Act 1953
    to provide that fund payment withholding provisions apply when a withholding MIT makes a fund payment to another entity that has a place of payment or address outside Australia;
    Income Tax Assessment Act 1936
    and
    Income Tax Assessment Act 1997
    to exclude certain superannuation funds and exempt entities from the application of the 20 per cent tracing rule for public trading trusts;
    Income Tax Assessment Act 1936
    to repeal the corporate unit trust rules; and
    Taxation Administration Act 1953
    to extend the list of entities qualifying as eligible investors for the purpose of the widely held requirements. Also amends 13 Acts to make consequential amendments. 

    Bill | Explanatory Memorandum

  • Tax Laws Amendment (Interest on Non-Resident Trust Distributions) (Temporary Budget Repair Levy) Bill 2014

    Track (What's this?)

    Date
    14 May 2014 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Part of a package of 15 bills to implement a three-year progressive budget repair levy, the bill amends the
    Income Tax Assessment Act 1936
    to increase by two per cent the rate of tax on the amount of interest payable by an Australian resident taxpayer on distributions from non-resident trust estates. 

    Bill | Explanatory Memorandum

  • Tax Laws Amendment (Implementation of the FATCA Agreement) Bill 2014

    Track (What's this?)

    Date
    29 May 2014 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the:
    Taxation Administration Act 1953
    to give effect to Australia’s obligations under the
    Agreement between the Government of Australia and the Government of the United States of America to Improve International Tax Compliance and to Implement FATCA
    ; and
    Income Tax Assessment Act 1997
    to make a consequential amendment. 

    Bill | Explanatory Memorandum

  • Tax Laws Amendment (Implementation of the Common Reporting Standard) Bill 2015

    Track (What's this?)

    Date
    03 Dec 2015 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the
    Taxation Administration Act 1953
    to: require financial institutions to carry out Common Reporting Standard due diligence procedures to identify reportable accounts held by foreign tax residents and provide statements about those accounts; require financial institutions to provide a statement in relation to certain accounts if they receive a notice requiring them to do so; provide for administrative penalties when financial institutions fail to collect account holder self-certifications about the jurisdiction of residence for tax purposes; and require financial institutions to keep records for at least five years that explain the procedures used for identifying these accounts. Also makes consequential amendments to the
    Income Tax Assessment Act 1997
    ,
    Tax and Superannuation Laws Amendment (2015 Measures No. 5) Act 2015
    and
    Taxation Administration Act 1953

    Bill | Explanatory Memorandum

  • Tax Laws Amendment (Gifts) Bill 2015

    Track (What's this?)

    Date
    12 Nov 2015 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the
    Income Tax Assessment Act 1997
    to add two organisations to the list of specifically listed deductible gift recipients. 

    Bill | Explanatory Memorandum

  • Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015

    Track (What's this?)

    Date
    16 Sep 2015 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the:
    Income Tax Assessment Act 1997
    to: provide for a standard and centralised set of concepts to determine whether an entity is a ‘significant global entity’; and introduce new standards for transfer pricing documentation and country-by-country reporting by significant global entities;
    Income Tax Assessment Act 1936
    to negate certain tax avoidance schemes used by multinational entities to artificially avoid the attribution of profits to a permanent establishment in Australia; and
    Taxation Administration Act 1953
    to: increase the penalties imposed on significant global entities that enter into tax avoidance or profit shifting schemes; and make consequential amendments. 

    Bill | Explanatory Memorandum

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What is a bill?

A bill is a proposal for a law or a change to an existing law. A bill becomes law (an Act) when agreed to in identical form by both houses of Parliament and assented to by the Governor-General.

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