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TOTAL RESULTS: 188

• Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019

  Track (What's this?)

  Date

  04 Jul 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends: the

  Corporations Act 2001

  to: introduce new criminal offences and civil penalty provisions for company officers that fail to prevent the company from making creditor-defeating dispositions and other persons that facilitate a company making a creditor-defeating disposition; allow liquidators to apply for a court order in relation to a voidable creditor-defeating disposition; enable the Australian Securities and Investments Commission to make orders to recover, for the benefit of a company’s creditors, company property disposed of or benefits received under a voidable creditor-defeating disposition; and prevent directors from improperly backdating resignations or ceasing to be a director when this would leave a company with no directors; the

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

  and

  Taxation Administration Act 1953

  to enable the Commissioner of Taxation to collect estimates of anticipated goods and services tax (GST) liabilities and make company directors personally liable for their company's GST liabilities in certain circumstances; the Taxation Administration Act 1953 to authorise the commissioner to retain tax refunds where a taxpayer has failed to lodge a return or provide other information that may affect the amount of a refund; and five Acts to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Consumer Data Right) Bill 2019

  Track (What's this?)

  Date

  24 Jul 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Competition and Consumer Act 2010

  ,

  Australian Information Commissioner Act 2010

  and

  Privacy Act 1988

  to create the Consumer Data Right to provide individuals and businesses with a right to access specified data in relation to them held by businesses. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Ending Grandfathered Conflicted Remuneration) Bill 2019

  Track (What's this?)

  Date

  01 Aug 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Implements a recommendation of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry by amending the

  Corporations Act 2001

  to: remove grandfathering arrangements for conflicted remuneration and other banned remuneration from 1 January 2021; and enable regulations to provide for a scheme under which amounts that would otherwise have been paid as conflicted remuneration are rebated to affected customers. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (International Tax Agreements) Bill 2019

  Track (What's this?)

  Date

  19 Sep 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  International Tax Agreements Act 1953

  to: give legislative authority to the Convention between the Government of Australia and the Government of the State of Israel for the elimination of double taxation with respect to taxes on income and the prevention of tax evasion and avoidance; and correct an incorrect cross reference to the specific source rule that applies in relation to an earlier agreement with Germany; and

  Income Tax Assessment Act 1997

  to introduce a deemed source of income rule to ensure that Australia can exercise its taxing rights under the convention and future international tax agreements. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Making Sure Multinationals Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2019

  Track (What's this?)

  Date

  04 Jul 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1936

  and

  Income Tax Assessment Act 1997

  to: require an entity to use the value of the assets, liabilities and equity capital that are used in its financial statements; remove the ability for an entity to revalue its assets specifically for thin capitalisation purposes; and ensure that non-ADI foreign controlled Australian tax consolidated groups and multiple entry consolidated groups that have foreign investments or operations are treated as both outward investing and inward investing entities;

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

  to require offshore suppliers of rights or options to use commercial accommodation in Australia to include these supplies in working out their GST turnover; and

  A New Tax System (Luxury Car Tax) Act 1999

  to remove liability for luxury car tax from cars that are re-imported following service, repair or refurbishment overseas. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2019

  Track (What's this?)

  Date

  18 Sep 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Competition and Consumer Act 2010

  to: prohibit certain conduct in electricity retail, contract and wholesale markets, broadly relating to retail pricing, financial contract market liquidity and conduct in wholesale spot markets; provide powers and remedies which the ACCC may use if it reasonably believes a corporation has engaged, or is engaging, in prohibited conduct in the electricity sector; enable the Treasurer, following the receipt of a prohibited conduct recommendation from the ACCC, to issue a written order to a corporation or another body to make offers to enter into electricity financial contracts with third party entities; enable the Treasurer, following the receipt of a prohibited conduct recommendation from the ACCC, to apply to the Federal Court (the court) for a divestiture order and for the court to make related orders that a corporation or another body corporate dispose of interests in securities or assets that are part of its electricity business; set out the notice and recommendation procedures that must be followed before an order can be made in respect of a corporation or another body corporate; confer new compulsory information gathering powers on the Australian Energy Regulator (AER); allow the AER to share information with other agencies; and facilitate the conferral of functions related to the regulation of retail electricity prices on the AER. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Putting Members’ Interests First) Bill 2019

  Track (What's this?)

  Date

  04 Jul 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Superannuation Industry (Supervision) Act 1993

  to prevent trustees from providing insurance on an opt out basis to members who are under 25 years old and begin to hold a new product on or after 1 October 2019, and to members who hold products with balances below $6000; and

  Superannuation (Unclaimed Money and Lost Members) Act 1999

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019

  Track (What's this?)

  Date

  18 Sep 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  and

  Superannuation Guarantee (Administration) Act 1992

  to provide for a one-off amnesty to encourage employers to self-correct historical superannuation guarantee non compliance; and

  Superannuation Guarantee (Administration) Act 1992

  to limit the Commissioner of Taxation’s ability to remit penalties for historical superannuation guarantee non-compliance, where an employer fails to disclose information relevant to their historical superannuation guarantee shortfall. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019

  Track (What's this?)

  Date

  23 Oct 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Foreign Acquisitions and Takeovers Fees Imposition Amendment (Near-new Dwelling Interests) Bill 2019, the bill amends the:

  Income Tax Assessment Act 1997

  to: remove the entitlement to the capital gains tax (CGT) main residence exemption for foreign residents; and clarify that, for the purpose of determining whether an entity’s underlying value is principally derived from taxable Australian real property under the foreign resident CGT regime, the principal asset test is applied on an associate inclusive basis;

  Income Tax (Transitional Provisions) Act 1997

  to provide for transitional arrangements in relation to the main residence exemption;

  Foreign Acquisitions and Takeovers Act 1975

  to require a reconciliation payment to be made by developers who sell dwellings to foreign persons under a near-new dwelling exemption certificate; and

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to provide an additional affordable housing capital gains discount of up to 10 per cent. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019

  Track (What's this?)

  Date

  04 Dec 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Commonwealth Registers Bill 2019, Business Names Registration (Fees) Amendment (Registries Modernisation) Bill 2019, Corporations (Fees) Amendment (Registries Modernisation) Bill 2019 and National Consumer Credit Protection (Fees) Amendment (Registries Modernisation) Bill 2019 to create a new Commonwealth business registry regime, the bill: amends 12 Acts to bring 35 existing business registers into the new regime; and

  Corporations (Aboriginal and Torres Strait Islander) Act 2006

  ,

  Corporations Act 2001

  ,

  Income Tax Assessment Act 1936

  and

  Taxation Administration Act 1953

  to introduce a director identification number requirement. 

  Bill | Explanatory Memorandum