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Second Reading Speeches

Treasury Laws Amendment (2021 Measures No. 2) Bill 2021

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

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Summary

Amends the:

Income Tax Assessment Act 1997
to require a fund, authority or institution to be a registered charity or an Australian government agency, or be operated by a registered charity or an Australian government agency, to be entitled to a deductible gift recipient endorsement;
Income Tax Assessment Act 1936
and
Income Tax Assessment Act 1997
to remove the concessional tax treatment for offshore banking units (OBU); and
Income Tax Assessment Act 1936
to: remove the ability of the minister to issue determinations or declarations that a person or entity is an OBU; and remove the withholding tax exemption for OBUs for interest (including interesting consisting of gold) paid on or after 1 January 2024.