TOTAL RESULTS: 741

• Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Bill 2023

  Track (What's this?)

  Date

  22 Jun 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Corporations Act 2001

  to require Australian public companies to disclose information about their subsidiaries in their annual financial reports by way of a ‘consolidated entity disclosure statement’; and

  Income Tax Assessment Act 1936

  ,

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to amend the thin capitalisation rules to limit the amount of debt deductions that multinational entities can claim in an income year. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2023 Law Improvement Package No. 1) Bill 2023

  Track (What's this?)

  Date

  14 Jun 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Australian Securities and Investments Commission Act 2001

  ,

  Corporations Act 2001

  and 42 other Acts to implement certain recommendations of the Australian Law Reform Commission’s Financial Services Interim Reports A and B to: ‘unfreeze’ the

  Acts Interpretation Act 1901

  so that the current version applies to the

  Australian Securities and Investments Commission Act 2001

  and

  Corporations Act 2001

  ; create a single glossary of defined terms in the

  Corporations Act 2001

  ; repeal redundant definitions; address unclear or incorrect provisions; simplify unnecessarily complex provisions; and make consequential and contingent amendments;

  Insurance Acquisitions and Takeovers Act 1991

  ,

  Insurance Act 1973

  ,

  Insurance Contracts Act 1984

  ,

  Life Insurance Act 1995

  and

  Terrorism and Cyclone Insurance Act 2003

  to implement findings of the thematic review of insurance instruments due to sunset on 1 October 2023;

  Corporations Act 2001

  and

  National Consumer Credit Protection Act 2009

  to move certain matters currently in legislative instruments into primary law. Also makes minor and technical amendments to 10 Acts in the Treasury portfolio and repeals the

  ASIC Corporations (Superannuation and Schemes: Underlying Investments) Instrument 2016/378

  . 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2023 Measures No. 3) Bill 2023

  Track (What's this?)

  Date

  14 Jun 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Corporations Act 2001

  to: prohibit schemes designed to avoid the application of a product intervention order relating to a credit facility; remove tertiary education requirements for financial advisers with 10 or more years’ experience and a clean disciplinary record; address certain limitations in the education requirements for new entrants into the financial advice profession and financial advisers who are registered tax agents; make amendments contingent on the commencement of the

  Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023

  and

  Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023

  ;

  Australian Securities and Investments Commission Act 2001

  and

  Corporations Act 2001

  to enable the Australian Securities and Investment Commission to implement and enforce requirements on a monopoly provider of clearing and settlement (CS) services to achieve competitive outcomes;

  Competition and Consumer Act 2010

  to provide the Australian Competition and Consumer Commission with the power to conduct binding arbitration to resolve disputes regarding access to certain CS services; and

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to: increase the discretion of the Commissioner of Taxation to amend and revoke First Home Super Saver (FHSS) Scheme applications; enable individuals to withdraw or amend their FHSS Scheme applications before receiving a FHSS Scheme amount, and enabling those who withdraw to re-apply for FHSS Scheme releases in the future; enable the Commissioner of Taxation to return any FHSS Scheme amounts to superannuation funds, provided the amount has not yet been released to the individual; and clarify that FHSS Scheme amounts returned to superannuation funds do not count towards individuals’ contribution caps. 

  Bill | Explanatory Memorandum

• Trade Support Loans Amendment Bill 2023

  Track (What's this?)

  Date

  25 May 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Employment and Workplace Relations 

  Summary

  Introduced with the Student Loans (Overseas Debtors Repayment Levy) Amendment Bill 2023, the bill amends the

  Trade Support Loans Act 2014

  to: cause the Trade Support Loans Priority List to lapse; enable the minister to determine a new Australian Apprenticeships Priority List; provide that a qualifying apprenticeship is, among other things, an apprenticeship through which a person is undertaking a qualification that leads to an occupation or qualification specified on the Australian Apprenticeships Priority List; amend the title of the Act to the

  Australian Apprenticeship Support Loans Act 2014

  ; and enable the secretary to extend the day by which an application for a particular payment instalment period may be made. Also makes consequential amendments to 5 Acts. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2023 Measures No. 2) Bill 2023

  Track (What's this?)

  Date

  10 May 2023 

  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 individual taxpayers and families eligible for the seniors and pensioners tax offset; and increase the phase-in limits as a result of the increased threshold amounts;

  Commonwealth Banks Act 1959

  to provide that the existing Commonwealth guarantee for pre-privatisation members of the Commonwealth Bank superannuation fund will continue to apply if the fund merges with another superannuation fund;

  Income Tax Assessment Act 1997

  to enable eligible primary producers to treat certain carbon abatement income as primary production income for the purposes of the Farm Management Deposit Scheme and accessing income tax averaging arrangements for primary producers;

  Taxation Administration Act 1953

  to reduce the gross domestic product adjustment factor for the 2023-24 financial year to 6 per cent; and

  National Housing Finance and Investment Corporation Act 2018

  to expand the objects of the Act to include assisting earlier access to the housing market for eligible individuals who have not held an ownership interest in real property in Australia in the preceding 10 years and single legal guardians of children. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Refining and Improving Our Tax System) Bill 2023

  Track (What's this?)

  Date

  22 Mar 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  International Tax Agreements Act 1953

  to: give legislative authority to the Convention between Australia and Iceland for the elimination of double taxation with respect to taxes on income and the prevention of tax evasion and avoidance; and make minor amendments to update various notes;

  Income Tax Assessment Act 1997

  to: exempt certain subsidiaries of the Future Fund Board from income tax and include them as entities eligible for a refund of a tax offset relating to a franked distribution; and transfer administration of three register deductible gift recipient categories and the Overseas Aid Gift Deduction Scheme to the Commissioner of Taxation;

  Customs Act 1901

  and

  Excise Act 1901

  to enable an eligible business entity liable for excise duty for excisable goods or customs duty for excise-equivalent goods, being fuel and alcohol, to align their excise returns and customs returns with the return period for other indirect taxes which are separately lodged through a business activity statement;

  Excise Act 1901

  to provide that the repackaging of beer that would otherwise be excise manufacture is not taken to be the manufacture of beer if it meets certain requirements; and

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Financial Services Compensation Scheme of Last Resort) Bill 2023

  Track (What's this?)

  Date

  08 Mar 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Financial Accountability Regime Bill 2023, Financial Accountability Regime (Consequential Amendments) Bill 2023, Financial Services Compensation Scheme of Last Resort Levy Bill 2023 and Financial Services Compensation Scheme of Last Resort Levy (Collection) Bill 2023, the bill amends the

  Corporations Act 2001

  ,

  Australian Securities and Investments Commission Act 2001

  and

  National Consumer Credit Protection Act 2009

  to establish the financial services compensation scheme of last resort to provide compensation to eligible consumers in circumstances where an Australian Financial Complaints Authority determination awarding monetary compensation has been made in their favour, but which the relevant entity has not paid. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2023 Measures No. 1) Bill 2023

  Track (What's this?)

  Date

  16 Feb 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Corporations Act 2001

  to: allow the Australian Securities and Investments Commission (ASIC) to approve applications from one or more licensees to register on the Financial Advisers Register the same relevant provider; and allow assisted decision-making to be used for any purpose for which ASIC may make decisions in the performance or exercise of its functions or powers to register a relevant provider;

  Australian Securities and Investments Commission Act 2001

  to: provide the Australian Accounting Standards Board with functions to develop and formulate sustainability standards; expand the Auditing and Assurance Standards Board's functions to include formulating auditing and assurance standards for sustainability purposes; and expand the Financial Reporting Council's oversight and governance powers to account for the development of sustainability standards;

  Tax Agent Services Act 2009

  to implement certain recommendations of the Review of the Tax Practitioners Board (TPB) by: amending the objects clause of the Act; creating a special account for the TPB; requiring tax practitioners not to employ or use a disqualified entity without the TPB's approval, or enter an arrangement with a disqualified entity; converting the registration period from at least every three years to at least every year; and enabling the minister to supplement the existing Code of Professional Conduct;

  Income Tax Assessment Act 1936

  and

  Income Tax Assessment Act 1997

  to align the income tax treatment of off-market share buy-backs undertaken by listed public companies with on-market share buy-backs; and

  Income Tax Assessment Act 1997

  to: ensure the alignment of tax treatment across capital management activities for listed public companies; and prevent certain distributions that are funded by capital raisings from being frankable. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Housing Measures No. 1) Bill 2023

  Track (What's this?)

  Date

  09 Feb 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Housing Australia Future Fund Bill 2023 and National Housing Supply and Affordability Council Bill 2023, the bill amends: the

  National Housing Finance and Investment Corporation Act 2018

  to rename the National Housing Finance and Investment Corporation to Housing Australia; the renamed

  Housing Australia Act 2018

  to: streamline the functions of Housing Australia; establish an annual review mechanism for the National Housing Infrastructure Facility; and extend the Commonwealth guarantee of the liabilities of Housing Australia to apply to contracts entered into until 30 June 2028; and 10 Acts to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Energy Price Relief Plan) Bill 2022

  Track (What's this?)

  Date

  15 Dec 2022 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Competition and Consumer Act 2010

  to: establish regulation-making powers in relation to dealings between persons who supply or acquire a gas commodity, dealing with and resolving disputes or complaints between persons who supply or acquire a gas commodity, and gas market emergency price orders; enable the Australian Competition and Consumer Commission to order the production of certain information and documents, investigate suspected non-compliance and utilise a range of sanctions for non-compliance; provide for civil penalty provisions of gas market instruments; and prohibit schemes designed to avoid the application of a civil penalty provision of a gas market instrument; and

  Federal Financial Relations Act 2009

  to introduce a payment to states and territories to support temporary energy bill relief for households and small businesses. 

  Bill | Explanatory Memorandum