Assented Bills of the current Parliament

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TOTAL RESULTS: 445

• Tax Laws Amendment (2011 Measures No. 5) Bill 2011

  Track (What's this?)

  Date

  02 Jun 2011 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  in relation to: trust beneficiaries continuing to use primary production income averaging in certain circumstances; the operation of the National Rental Affordability Scheme; and anti-avoidance rules for exempt entities used to ‘shelter’ the taxable income of a trust;

  Income Tax Assessment Act 1936

  ,

  Income Tax Assessment Act 1997

  and

  Income Tax (Transitional Provisions) Act 1997

  to enable trust beneficiaries to continue to use farm management deposits in certain circumstances;

  Income Tax Assessment Act 1936

  in relation to: capital gains and franked distributions of trusts; and phasing out the dependent spouse tax offset; and

  Fringe Benefits Tax Assessment Act 1986

  to provide for a single statutory rate of 20 per cent to determine the taxable value of car fringe benefits. Also makes consequential amendments to the

  Income Tax Assessment Act 1936

  and

  Income Tax Assessment Act 1997

  . 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (2011 Measures No. 6) Bill 2011

  Track (What's this?)

  Date

  22 Jun 2011 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  to: provide that the outer regional and remote payment made under the Better Start for Children with Disability initiative is exempt from income tax; and update the list of deductible gift recipients; and

  Fringe Benefits Tax Assessment Act 1986

  to provide that transport costs from an employee’s residence to their employment in a remote area overseas is exempt from fringe benefits tax. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (2011 Measures No. 7) Bill 2011

  Track (What's this?)

  Date

  21 Sep 2011 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  in relation to: taxation arrangements for special disability trusts; certain farm management deposits being accessed within 12 months; and the producer, location, and post, digital and visual effects offsets;

  Income Tax Rates Act 1986

  to reduce the lowest marginal tax rate for workers participating in the Pacific Seasonal Worker Pilot Scheme;

  Taxation Administration Act 1953

  to provide that the instalment income of certain taxpayers includes net gains in the taxation of financial arrangements;

  Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009

  to give the Commissioner of Taxation a discretion to extend the time in which taxpayers may notify the making of a transitional election in certain circumstances;

  Income Tax Assessment Act 1997

  ,

  Taxation Administration Act 1953

  and

  Banking Act 1959

  in relation to the administration of the farm management deposits scheme;

  Income Tax Assessment Act 1997

  and

  Tax Laws Amendment (2009 Measures No. 6) Act 2010

  to extend to 30 September 2011 the date for the temporary loss relief for merging superannuation funds; and

  A New Tax System (Australian Business Number) Act 1999

  ,

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  in relation to a regulatory framework for public ancillary funds. Also provides that any director penalty notices issued by the Commissioner of Taxation under former section 22AOE of the

  Income Tax Assessment Act 1936

  between 10 December 2007 and 30 June 2010 are valid, notwithstanding the New South Wales Court of Appeal decision in

  Soong v Deputy Commissioner of Taxation

  (2011) 248 FLR 252. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (2011 Measures No. 8) Bill 2011

  Track (What's this?)

  Date

  13 Oct 2011 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Pay As You Go Withholding Non-compliance Tax Bill 2011, the bill amends the:

  Income Tax Assessment Act 1997

  to provide the Commissioner of Taxation with discretion to disregard certain events that would otherwise trigger the assessment of certain income for a primary production trust in the year of the event;

  Petroleum Resource Rent Tax Assessment Act 1987

  to clarify the location of the ‘taxing point’ for the purposes of the petroleum resource rent tax; and

  Excise Act 1901

  and

  Fuel Tax Act 2006

  to clarify taxation arrangements for gaseous fuels. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (2011 Measures No. 9) Bill 2011

  Track (What's this?)

  Date

  23 Nov 2011 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Pay As You Go Withholding Non-compliance Tax Bill 2012, the bill amends the:

  Taxation Administration Act 1953

  and four other Acts to: extend the director penalty regime so that directors are personally responsible for their company’s unpaid superannuation guarantee amounts; make directors and their associates liable to pay as you go (PAYG) withholding non-compliance tax in certain circumstances; and ensure that directors cannot discharge their director penalties by placing their company into administration or liquidation when PAYG withholding or superannuation guarantee remains unpaid and unreported three months after the due date;

  Income Tax Assessment Act 1997

  and

  Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009

  in relation to the taxation of financial arrangements consolidation interaction; and

  Income Tax Assessment Act 1997

  to modify the consolidation tax cost setting rules and rights to future income rules. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (2012 Measures No. 1) Bill 2012

  Track (What's this?)

  Date

  21 Mar 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  to: ensure that expenses incurred in gaining or producing a rebatable benefit are not deductible; provide that complying superannuation entities cannot account for gains and losses on certain assets on revenue account using the trading stock exception; and exempt from income tax ex-gratia payments to New Zealand non-protected special category visa holders for the floods that occurred in New South Wales and Queensland in early 2012;

  Income Tax Assessment Act 1936

  to commence the phase out of the dependent spouse tax offset by restricting eligibility for the offset to taxpayers with a dependent spouse born before 1 July 1952; and

  Income Tax Assessment Act 1997

  ,

  Minerals Resource Rent Tax Act 2012

  , and

  Taxation Administration Act 1953

  to make technical amendments. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (2012 Measures No. 2) Bill 2012

  Track (What's this?)

  Date

  24 May 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Pay As You Go Withholding Non-compliance Tax Bill 2012, the bill amends the:

  Taxation Administration Act 1953

  and four other Acts to: extend the director penalty regime so that directors are personally responsible for their company’s unpaid superannuation guarantee amounts; make directors and their associates liable to pay as you go (PAYG) withholding non-compliance tax in certain circumstances; and ensure that directors cannot discharge their director penalties by placing their company into administration or liquidation when PAYG withholding or superannuation guarantee remains unpaid and unreported three months after the due date;

  Income Tax Assessment Act 1997

  and

  Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009

  in relation to the taxation of financial arrangements consolidation interaction; and

  Income Tax Assessment Act 1997

  to modify the consolidation tax cost setting rules and rights to future income rules. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (2012 Measures No. 3) Bill 2012

  Track (What's this?)

  Date

  24 May 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Part of a package of three bills in relation to the Seasonal Labour Mobility Program and other taxation matters, the bill amends the:

  Income Tax Assessment Act 1936

  ,

  Income Tax Assessment Act 1997

  ,

  Income Tax (Transitional Provisions) Act 1997

  and

  Taxation Administration Act 1953

  to apply a new final withholding tax to income derived by non-resident workers participating in the Seasonal Labour Mobility Program;

  Excise Act 1901

  and

  Excise Tariff Act 1921

  to specify the circumstances where blending the same types of gaseous fuels or the same types of aviation fuels, which have been taxed at different rates, are not treated as excise manufacture and are therefore subject to additional duty;

  Income Tax Assessment Act 1936

  to retrospectively clarify that trust beneficiaries who are minors cannot receive the low income tax offset for unearned income earned through trust distributions; and

  Income Tax Assessment Act 1997

  to: provide income tax exemptions for clean energy payments made to recipients of payments made under certain schemes; and make the employment termination payment tax offset dependent on an individual’s total taxable income. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (2012 Measures No. 5) Bill 2012

  Track (What's this?)

  Date

  19 Sep 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  to: expand the application of the conservation tillage refundable tax offset by providing that an eligible no-till seeder can comprise just the tool, or the combination of the cart and the tool; phase out the mature age worker tax offset from 1 July 2012 for taxpayers born on or after 1 July 1957; and include The Diamond Jubilee Trust Australia in the list of deductible gift recipients; and

  A New Tax System (Wine Equalisation Tax) Act 1999

  to: provide that a wine producer will not be entitled to the wine equalisation tax producer rebate on other wine they use in manufacture, except where the producer of the other wine notifies the subsequent producer; and make technical amendments. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (Clean Building Managed Investment Trust) Bill 2012

  Track (What's this?)

  Date

  10 Oct 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Income Tax Assessment Act 1997

  ,

  Income Tax (Managed Investment Trust Withholding Tax) Act 2008

  and

  Taxation Administration Act 1953

  to provide a final withholding tax rate of 10 per cent on fund payments from eligible clean building managed investment trusts made to foreign residents in countries with which Australia has effective exchange of information. 

  Bill | Explanatory Memorandum