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• Tax Laws Amendment (Managed Investment Trust Withholding Tax) Bill 2012

  Track (What's this?)

  Date

  21 Jun 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Part of a package of two bills in relation to the managed investment trust (MIT) withholding tax, the bill amends the

  Taxation Administration Act 1953

  to make consequential amendments to give effect to the increase in the MIT final withholding tax rate imposed by the proposed

  Income Tax (Managed Investment Trust Withholding Tax) Amendment Act 2012

  . 

  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 (Medicare Levy and Medicare Levy Surcharge) Bill 2012

  Track (What's this?)

  Date

  10 May 2012 

  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 pensioners below pension age; and increase the phase-in limits as a result of the increased threshold amounts. Also makes consequential amendments to the

  Clean Energy (Tax Laws Amendments) Act 2011

  . 

  Bill | Explanatory Memorandum

• Telecommunications Interception and Other Legislation Amendment (State Bodies) Bill 2012

  Track (What's this?)

  Date

  22 Mar 2012 

  Chamber

  House of Representatives 

  Status

  Passed Both Houses 

  Portfolio

  Attorney-General 

  Summary

  Supports the newly established Victorian Independent Board-based Anti-Corruption Commission (IBAC) and South Australian Independent Commissioner Against Corruption (ICAC), the Victorian Inspectorate (VI) and the Victorian Public Interest Monitor (PIM) by amending the:

  Crimes Act 1914

  to: provide the IBAC with access to items and documents seized by a constable or Commonwealth officer for specific purposes;

  Privacy Act 1988

  to include the IBAC as an enforcement body which is used in the National Privacy Principles in relation to the law enforcement exemptions to the use and disclosure, and access and correction obligations;

  Taxation Administration Act 1953

  to enable the Australian Taxation Office to disclose taxpayer protected information to the IBAC for certain law enforcement purposes; and

  Telecommunications (Interception and Access) Act 1979

  to: enable the IBAC, the ICAC and the VI to use and communicate existing intercepted information; and the PIM to access relevant information and appear at applications for warrants under the Act. 

  Bill | Explanatory Memorandum

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

  Track (What's this?)

  Date

  01 Mar 2012 

  Chamber

  House of Representatives 

  Status

  Passed Both Houses 

  Portfolio

  Treasury 

  Summary

  Amends the:

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

  to: provide that a supply made by a health care provider to an insurer, statutory compensation scheme operator, compulsory third party scheme operator or a government entity is treated as GST-free supply; and provide that non-commercial activities of government related entites are not subject to GST;

  Income Tax Assessment Act 1997

  to pause the indexation of the superannuation concessional contributions cap during the 2013-14 financial year;

  Income Tax Assessment Act 1997

  ,

  Superannuation (Government Co-contribution for Low Income Earners) Act 2003

  ,

  Taxation Administration Act 1953

  and

  Taxation (Interest on Overpayments and Early Payments) Act 1983

  to allow eligible individuals the option to have excess concessional contributions taken out of their superannuation fund and assessed at their marginal tax rates;

  Taxation Administration Act 1953

  to: permit the Australian Taxation Office to disclose individual’s superannuation information to superannuation entities and their administrators for certain purposes; and provide the Commisioner of Taxation with a discretion to delay refunding an amount to a taxpayer pending integrity checks of their claim; and

  Superannuation Industry (Supervision) Act 1993

  to require employers to report, on payslips, any information prescribed in the regulations about superannuation contributions. 

  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

  Amends: the

  Retirement Savings Accounts Act 1997

  and

  Superannuation Industry (Supervision) Act 1993

  to enable regulations to prescribe the operating details of the electronic portability form for superannuation benefits and to specify certain requirements; the

  Income Tax Assessment Act 1997

  and

  Income Tax (Transitional Provisions) Act 1997

  in relation to capital gains tax and certain business restructures; the

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

  in relation to the financial acquisitions threshold; borrowings; hire purchase; and the sales or lease of new residential premises for goods and services tax purposes; the

  Income Tax Assessment Act 1997

  to update the list of deductible gift recipients; and 13 Acts to make technical amendments. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Bill 2011

  Track (What's this?)

  Date

  02 Nov 2011 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Part of a package of 11 bills, the bill amends the:

  Income Tax Assessment Act 1997

  ,

  Income Tax (Transitional Provisions) Act 1997

  and

  Taxation Administration Act 1953

  to abolish the entrepreneurs’ tax offset;

  Income Tax Assessment Act 1997

  and

  Income Tax (Transitional Provisions) Act 1997

  to: increase the small business instant asset write-off threshold to $6500; and consolidate the long life small business pool and the general small business pool into a single pool to be written off at one rate;

  Income Tax Assessment Act 1997

  to enable small business entities to claim an accelerated initial deduction for motor vehicles acquired in the 2012-13 and subsequent financial years; and

  Superannuation (Government Co-contribution for Low Income Earners) Act 2003

  to enable eligible low income earners to receive the low income superannuation contribution. 

  Bill | Explanatory Memorandum

• Telecommunications (Industry Levy) Bill 2011

  Track (What's this?)

  Date

  02 Nov 2011 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Broadband, Communications and the Digital Economy 

  Summary

  Part of a package of three bills to support the transition to the national broadband network, the bill imposes a levy on telecommunications carriers or carriage service providers if the carriers or providers have a levy amount for an eligible levy period. 

  Bill | Explanatory Memorandum

• Telecommunications Legislation Amendment (Universal Service Reform) Bill 2011

  Track (What's this?)

  Date

  02 Nov 2011 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Broadband, Communications and the Digital Economy 

  Summary

  Part of a package of three bills to support the transition to the national broadband network, the bill: makes amendments consequential on the establishment of the Telecommunications Universal Service Management Agency to six Acts and the Financial Management and Accountability Regulations 1997; and amends the

  Criminal Code Act 1995

  ,

  NRS Levy Imposition Act 1998

  and

  Telecommunications (Consumer Protection and Service Standards) Act 1999

  to provide for the phasing out of the Universal Service Obligation and National Relay Service levies after 30 June 2012. 

  Bill | Explanatory Memorandum

• Telecommunications Universal Service Management Agency Bill 2011

  Track (What's this?)

  Date

  02 Nov 2011 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Broadband, Communications and the Digital Economy 

  Summary

  Part of a package of three bills to support the transition to the national broadband network, the bill: establishes the Telecommunications Universal Service Management Agency (TUSMA) as a statutory agency to implement and administer the service agreements or grants that deliver universal service and other public policy telecommunications outcomes; sets out the agency’s corporate governance structure and reporting and accountability requirements; provides for the minister, by legislative instrument, to make standards, rules or benchmarks for TUSMA contracts and grants; and provides for the Universal Service Obligation and National Relay Service industry levy regimes to be consolidated into a single regime to provide TUSMA funding. 

  Bill | Explanatory Memorandum