- Date
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28 Oct 2020
- Chamber
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House of Representatives
- Status
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Before Senate
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Portfolio
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Treasury
- Summary
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Amends the:
Income Tax Assessment Act 1997
to make refunds of large-scale generation shortfall charges non-assessable non-exempt income for income tax purposes; Treasury Laws Amendment (Putting Consumers First—Establishment of the Australian Financial Complaints Authority) Act 2018
to: facilitate the closure and any transitional arrangements associated with the Australian Financial Complaints Authority (AFCA) replacing the Superannuation Complaints Tribunal (SCT); provide for the transfer of records and documents from the SCT to the Australian Securities and Investments Commission; include a power for the Federal Court to remit cases back to AFCA; and include a rule-making power to allow the minister to prescribe matters of a transitional nature; Competition and Consumer Act 2010
to increase the maximum amount of penalty units that can be included in regulations that prescribe an industry code from 300 to 600 penalty units; and Coronavirus Economic Response Package Omnibus (Measures No. 2) Act 2020
to extend the temporary mechanism which enables ministers to change arrangements for meeting information and documentary requirements.