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Second Reading Speeches

Treasury Laws Amendment (2018 Measures No. 2) Bill 2019

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
46

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Summary

Amends the:

Corporations Act 2001
and
National Consumer Credit Protection Act 2009
to allow regulations to provide for exemptions from the Australian Financial Services Licence and Australian Credit Licence requirements for the purposes of testing financial and credit products and services under certain conditions;
Income Tax Assessment Act 1997
to amend the venture capital and early stage investor provisions to ensure that they operate as intended in relation to capital gains tax transactions, managed investment trusts and the early stage investor tax offset; and
Income Tax Assessment Act 1936
to amend the definition of public trading trusts. Also provides for an independent review of the operation of the exemptions from the Australian Financial Services Licence and Australian Credit Licence requirements.

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