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.

Assented Bills of the current Parliament

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Current Bills
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TOTAL RESULTS: 68

  • Date
    09 Feb 2017 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the
    Income Tax Assessment Act 1997
    to include the Bourke Street Fund on the list of deductible gift recipients. 

    Bill | Explanatory Memorandum

  • Date
    01 Dec 2016 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the S
    uperannuation (Departing Australia Superannuation Payments Tax) Act 2007
    to reduce the rate of the departing Australia superannuation payments tax from 95 per cent to 65 per cent for working holiday makers. 

    Bill | Explanatory Memorandum

  • Date
    28 Nov 2016 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Part of a package of four bills in relation to tax arrangements for working holiday makers, the bill amends the
    Income Tax Rates Act 1986
    to apply a 15 per cent income tax rate to assessable income derived by working holiday makers on amounts up to $37 000, with ordinary tax rates applying for taxable income exceeding this amount. 

    Bill | Explanatory Memorandum

  • Date
    24 Nov 2016 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the:
    Corporations Act 2001
    to: establish a framework to facilitate crowd-sourced funding offers by small unlisted public companies; provide new public companies that are eligible to crowd fund with temporary relief from certain reporting and corporate governance requirements; and enable the minister to provide that certain financial market and clearing and settlement facility operators are exempt from specified parts of the Australian Market Licence and clearing and settlement facility licencing regimes; and
    Australian Securities and Investments Commission Act 2001
    to make consequential amendments. 

    Bill | Explanatory Memorandum

  • Date
    23 Nov 2016 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the:
    Corporations Act 2001
    to: require that certain financial advisers meet specified education and training standards and comply with a code of ethics; apply transitional arrangements to existing financial advisers; impose an obligation on an Australian financial services licensee to ensure that its financial advisers comply with the education standards and are covered by a compliance scheme; restrict the use of the titles ‘financial adviser’ and ‘financial planner’; amend the content requirements for the register of financial advisers; provide for sanctions where a financial adviser or licensee fails to comply with the new obligations; and establish a standards body which will approve foreign qualifications and develop and set the education standards and code of ethics; and
    Tax Agent Services Act 2009
    to provide for the Tax Practitioners Board and monitoring bodies to share information. 

    Bill | Explanatory Memorandum

  • Date
    09 Nov 2016 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Introduced with the Superannuation (Excess Transfer Balance Tax) Imposition Bill 2016, the bill amends: five Acts to impose a $1.6 million cap on the amount of capital that can be transferred to the tax-free earnings retirement phase of superannuation; the
    Income Tax Assessment Act 1997
    and
    Taxation Administration Act 1953
    to: introduce additional income tax rules on recipients of certain defined benefit income streams in excess of $100 000 per annum; and reduce the threshold at which high-income earners pay Division 293 tax on their concessional taxed contribution to superannuation to $250 000; the
    Income Tax (Transitional Provisions) Act 1997
    to provide transitional capital gains tax relief for superannuation funds that adjust their asset allocations before 1 July 2017; the
    Income Tax Assessment Act 1997
    and
    Income Tax (Transitional Provisions) Act 1997
    to reduce the annual concessional contributions cap to $25 000 and the annual non-concessional contributions cap to $100 000; introduce criteria for an individual to be eligible for the non-concessional contributions cap and make minor amendments to the non-concessional contributions rules; and remove the anti-detriment deduction; the
    Superannuation Guarantee (Administration) Act 1992
    to amend how the maximum contribution base is determined; the
    Superannuation (Government Co-contribution for Low Income Earners) Act 2003
    to enable eligible low income earners to receive the low income superannuation tax offset; the
    Income Tax Assessment Act 1997
    to: remove the requirement that an individual must earn less than 10 per cent of their income to be able to claim a deduction for personal superannuation contributions; enable catch-up concessional contributions; extend the spouse superannuation tax offset; and amend the earnings tax exemption for complying superannuation funds, retirement savings account providers and life insurance companies; and 11 Acts to make administration and consequential amendments. 

    Bill | Explanatory Memorandum

  • Date
    03 Nov 2016 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Introduced with the Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016, the bill imposes an excess transfer balance tax on the notional earnings of capital moved into a retirement phase superannuation account that is in excess of $1.6 million. 

    Bill | Explanatory Memorandum

  • Date
    12 Oct 2016 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the
    Corporations Act 2001
    to: remove the exemption from the conflicted remuneration ban on benefits paid in relation to certain life risk insurance products; enable regulations to prescribe other circumstances where a benefit paid in relation to life insurance is conflicted remuneration even where no advice is provided; enable the Australian Securities and Investments Commission to permit benefits in relation to life risk insurance products when certain requirements are met; and ban volume based payments in life risk products. 

    Bill | Explanatory Memorandum

  • Date
    12 Oct 2016 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Amends the:
    Register of Foreign Ownership of Agricultural Land Act 2015
    to establish a Register of Foreign Ownership of Water Entitlements to be administered by the Commissioner of Taxation; and amend the short title of the Act to the
    Register of Foreign Ownership of Water or Agricultural Land Act 2015
    ;
    Foreign Acquisitions and Takeovers Act 1975
    to facilitate the administration of the rules in relation to foreign investment in residential real estate; and
    Taxation Administration Act 1953
    to enable the disclosure of certain information. 

    Bill | Explanatory Memorandum

  • Date
    12 Oct 2016 
    Chamber
    House of Representatives 
    Status
    Act 
    Portfolio
    Treasury 
    Summary
    Part of a package of four bills in relation to tax arrangements for working holiday makers, the bill amends the
    Superannuation (Departing Australia Superannuation Payments Tax) Act 2007
    to increase the rate of the departing Australia superannuation payments tax to 95 per cent for working holiday makers. 

    Bill | Explanatory Memorandum