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• Corporations Amendment (Proxy Voting) Bill 2012

  Track (What's this?)

  Date

  24 May 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Corporations Act 2001

  to clarify that the chair of an annual general meeting, who is a member of the key management personnel or a closely related party of a key management personnel, is able to vote undirected proxies in the non-binding vote where the shareholder provides their express authorisation for the chair to exercise the proxy. 

  Bill | Explanatory Memorandum

• Income Tax (Managed Investment Trust Withholding Tax) Amendment Bill 2012

  Track (What's this?)

  Date

  24 May 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Part of a package of two bills in relation to the managed investment trust (MIT) withholding tax, the bill amends the

  Income Tax (Managed Investment Trust Withholding Tax) Act 2008

  to increase the MIT final withholding tax from 7.5 per cent to 15 per cent on fund payments made in the income years commencing on or after 1 July 2012. 

  Bill | Explanatory Memorandum

• Income Tax (Seasonal Labour Mobility Program Withholding Tax) Bill 2012

  Track (What's this?)

  Date

  24 May 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Part of a package of three bills in relation to the Seasonal Labour Mobility Program and other taxation matters, the bill imposes a 15 per cent withholding tax on income derived by non-resident workers participating in the program from 1 July 2012. 

  Bill | Explanatory Memorandum

• Pay As You Go Withholding Non-compliance Tax Bill 2012

  Track (What's this?)

  Date

  24 May 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Tax Laws Amendment (2012 Measures No. 2) Bill 2012, the bill imposes a pay as you go (PAYG) withholding non-compliance tax on directors and, in some circumstances, their associates where their company has a PAYG withholding liability for an income year and the director or associate is entitled to a credit for amounts withheld by the company during the income year. 

  Bill | Explanatory Memorandum

• Superannuation Legislation Amendment (Stronger Super) Bill 2012

  Track (What's this?)

  Date

  24 May 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Superannuation Supervisory Levy Imposition Amendment Bill 2012, the bill amends the:

  Retirement Savings Accounts Act 1997

  and

  Superannuation Industry (Supervision) Act 1993

  to: establish a framework to implement the superannuation data and payment regulations and standards that will apply to specified superannuation transactions undertaken by superannuation entities, retirement savings account providers and employers; and make consequential amendments;

  Taxation Administration Act 1953

  to provide for an administrative penalty framework for non-compliance with the superannuation data and payment regulations and standards; and

  Australian Prudential Regulation Authority Act 1998

  to: enable costs associated with the SuperStream measures to be included in the minister’s determination specifying the amount of levy payable to the Commonwealth; enable the minister to make a determination that specifies the proportion of levy money paid to the Australian Prudential Regulation Authority (APRA) that is to be credited to the APRA Special Account; and insert a definition of the measures covered by SuperStream. 

  Bill | Explanatory Memorandum

• Superannuation Supervisory Levy Imposition Amendment Bill 2012

  Track (What's this?)

  Date

  24 May 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Superannuation Legislation Amendment (Stronger Super) Bill 2012, the bill amends the

  Superannuation Supervisory Levy Imposition Act 1998

  to enable the Treasurer to make more than one determination, for a financial year, of the restricted and unrestricted levy amounts, restricted and unrestricted levy percentages and the superannuation entity levy base. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (2012 Measures No. 2) Bill 2012

  Track (What's this?)

  Date

  24 May 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Pay As You Go Withholding Non-compliance Tax Bill 2012, the bill amends the:

  Taxation Administration Act 1953

  and four other Acts to: extend the director penalty regime so that directors are personally responsible for their company’s unpaid superannuation guarantee amounts; make directors and their associates liable to pay as you go (PAYG) withholding non-compliance tax in certain circumstances; and ensure that directors cannot discharge their director penalties by placing their company into administration or liquidation when PAYG withholding or superannuation guarantee remains unpaid and unreported three months after the due date;

  Income Tax Assessment Act 1997

  and

  Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009

  in relation to the taxation of financial arrangements consolidation interaction; and

  Income Tax Assessment Act 1997

  to modify the consolidation tax cost setting rules and rights to future income rules. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (2012 Measures No. 3) Bill 2012

  Track (What's this?)

  Date

  24 May 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Part of a package of three bills in relation to the Seasonal Labour Mobility Program and other taxation matters, the bill amends the:

  Income Tax Assessment Act 1936

  ,

  Income Tax Assessment Act 1997

  ,

  Income Tax (Transitional Provisions) Act 1997

  and

  Taxation Administration Act 1953

  to apply a new final withholding tax to income derived by non-resident workers participating in the Seasonal Labour Mobility Program;

  Excise Act 1901

  and

  Excise Tariff Act 1921

  to specify the circumstances where blending the same types of gaseous fuels or the same types of aviation fuels, which have been taxed at different rates, are not treated as excise manufacture and are therefore subject to additional duty;

  Income Tax Assessment Act 1936

  to retrospectively clarify that trust beneficiaries who are minors cannot receive the low income tax offset for unearned income earned through trust distributions; and

  Income Tax Assessment Act 1997

  to: provide income tax exemptions for clean energy payments made to recipients of payments made under certain schemes; and make the employment termination payment tax offset dependent on an individual’s total taxable income. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (Cross-Border Transfer Pricing) Bill (No. 1) 2012

  Track (What's this?)

  Date

  24 May 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  ,

  Income Tax (Transitional Provisions) Act 1997

  and

  Taxation Administration Act 1953

  to retrospectively: clarify that the internationally consistent transfer pricing rules contained in Australia’s tax treaties and incorporated into Australian law provide assessment authority to address treaty related transfer pricing; and ensure that the tax treaty transfer pricing rules are applied in a manner consistent with the relevant Organisation for Economic Co-operation and Development guidance material; and

  Income Tax Assessment Act 1936

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Tax Laws Amendment (Income Tax Rates) Bill 2012

  Track (What's this?)

  Date

  24 May 2012 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Part of a package of three bills in relation to the Seasonal Labour Mobility Program and other taxation matters, the bill amends the

  Income Tax Rates Act 1986

  to merge the first two personal marginal tax rate thresholds for non-resident workers into a single threshold and align the rate for this new threshold with the second marginal tax rate for resident workers. 

  Bill | Explanatory Memorandum