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TOTAL RESULTS: 3785

• Corporate Collective Investment Vehicle Framework and Other Measures Bill 2021

  Track (What's this?)

  Date

  25 Nov 2021 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends: the

  Corporations Act 2001

  to establish a corporate collective investment vehicle (CCIV) as a new type of a company limited by shares that is used for funds management; the

  Income Tax Assessment Act 1997

  to: specify the tax treatment for the CCIV regime; make amendments consequential on the commencement of the

  Commonwealth Registers Act 2020

  ; update the list of deductible gift recipients; and remove cessation of employment as a taxing point for employee share scheme interests which are subject to deferred taxation; the

  International Tax Agreements Act 1953

  to clarify that the priority rule is subject to the deeming principle; the

  Australian Securities and Investments Commission Act 2001

  ,

  Personal Property Securities Act 2009

  ,

  A New Tax System (Australian Business Number) Act 1999

  and

  Income Tax Assessment Act 1997

  to make consequential amendments in relation to the CCIV regime; the

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to enable eligible corporate tax entities to claim a loss carry back tax offset in the 2022-23 financial year; 10 Acts and one determination in the Treasury portfolio to make miscellaneous and technical amendments; and the

  Superannuation Industry (Supervision) Act 1993

  to insert a new covenant that requires trustees of registrable superannuation entities to develop a retirement income strategy for beneficiaries who are retired or are approaching retirement. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021

  Track (What's this?)

  Date

  27 Oct 2021 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Superannuation Guarantee (Administration) Act 1992

  to remove the $450-a-month threshold before an employee's salary or wages count towards the superannuation guarantee;

  Taxation Administration Act 1953

  to increase the limit on the maximum amount of voluntary contributions made over multiple financial years that are eligible to be released under the First Home Super Saver Scheme from $30 000 to $50 000;

  Income Tax Assessment Act 1997

  to: enable individuals aged 60 and above to make downsizer contributions to their superannuation plan from the proceeds of selling their home; apply the work test to individuals aged between 67 and 75 who claim a deduction for personal superannuation contributions and allow such individuals to make or receive non-concessional superannuation contributions under the bring forward rule; and enable superannuation trustees to choose their preferred method of calculating exempt current pension income when they have member interests in both accumulation and retirement phases for part, but not all, of the income year; and

  Income Tax (Transitional Provisions) Act 1997

  to extend the temporary full expensing regime to 30 June 2023. 

  Bill | Explanatory Memorandum

• Corporations Amendment (Meetings and Documents) Bill 2021

  Track (What's this?)

  Date

  20 Oct 2021 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Corporations Act 2001

  to: establish a permanent mechanism to allow companies and registered schemes to hold hybrid (in person and remote) meetings; and use technology to execute, sign and share company and meeting related documents. 

  Bill | Explanatory Memorandum

• Offshore Petroleum (Laminaria and Corallina Decommissioning Cost Recovery Levy) Bill 2021

  Track (What's this?)

  Date

  20 Oct 2021 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Treasury Laws Amendment (Laminaria and Corallina Decommissioning Cost Recovery Levy) Bill 2021, the bill imposes a temporary levy on offshore petroleum production to recover the Commonwealth's costs of decommissioning the Laminaria and Corallina oil fields and associated infrastructure. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Laminaria and Corallina Decommissioning Cost Recovery Levy) Bill 2021

  Track (What's this?)

  Date

  20 Oct 2021 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Offshore Petroleum (Laminaria and Corallina Decommissioning Cost Recovery Levy) Bill 2021, the bill amends the

  Income Tax Assessment Act 1997

  ,

  Petroleum Resource Rent Tax Assessment Act 1987

  and

  Taxation Administration Act 1953

  to specify certain administrative features relating to the Laminaria and Corallina decommissioning levy, including the requirement that the levy is payable to the Commissioner of Taxation annually. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2021 Measures No. 6) Bill 2021

  Track (What's this?)

  Date

  11 Aug 2021 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  to: make refunds of large-scale generation shortfall charges exempt from income tax; and remove the requirement for superannuation trustees to provide an actuarial certificate when calculating exempt current pension income using the proportionate method, where all members of the fund are fully in the retirement phase for all of the income year;

  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; clarify that if regulations prescribe an industry code, the industry code may confer on a person or body functions and powers in relation to the code; and

  Family Law Act 1975

  and

  Taxation Administration Act 1953

  to create an information sharing mechanism to allow the family law courts to access certain superannuation information held by the Commissioner of Taxation for the purpose of permitting family law proceedings. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (COVID-19 Economic Response No. 2) Bill 2021

  Track (What's this?)

  Date

  03 Aug 2021 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Coronavirus Economic Response Package (Payments and Benefits) Act 2020

  to enable the Treasurer to make rules for economic response payments to provide support to an entity where they are adversely affected by restrictions imposed by a state or territory public health order that is directed at controlling the transmission of COVID-19;

  Taxation Administration Act 1953

  to enable tax information to be disclosed to Australian government agencies for the purposes of administering COVID-19 business support programs;

  Income Tax Assessment Act 1997

  to make payments received by eligible businesses under certain COVID-19 business support programs and Commonwealth COVID-19 disaster payments exempt from income tax; and

  Coronavirus Economic Response Package Omnibus (Measures No. 2) Act 2020

  to reinstate a temporary mechanism for ministers to change arrangements relating to meeting information and document requirements under Commonwealth legislation. 

  Bill | Explanatory Memorandum

• Financial Sector Reform (Hayne Royal Commission Response—Better Advice) Bill 2021

  Track (What's this?)

  Date

  24 Jun 2021 

  Chamber

  House of Representatives 

  Status

  Assent 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Australian Securities and Investments Commission Act 2001

  ,

  Corporations Act 2001

  and three other Acts to: expand the role of the Financial Services and Credit Panel to operate as a single disciplinary body for financial advisers; create new penalties and sanctions for financial advisers who have breached their obligations under the

  Corporations Act 2001

  ; introduce a two-stage registration process for financial advisers; transfer functions from the Financial Adviser Standards and Ethics Authority to the minister and to the Australian Securities and Investments Commission; and introduce a single registration and disciplinary system for financial advisers who provide tax (financial) advice services; and Corporations Act 2001 to make amendments contingent on the commencement of the

  Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020

  . 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2021 Measures No. 5) Bill 2021

  Track (What's this?)

  Date

  24 Jun 2021 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends: the

  Income Tax Assessment Act 1997

  to: increase the producer offset for films that are not feature films released in cinemas to 30 per cent of total qualifying Australian production expenditure; increase the minimum qualifying Australian production expenditure threshold for claiming the producer offset and the post, digital and visual effects offset to $1 million; remove the 65 commercial hour cap on claiming qualifying Australian production expenditure for a drama series and seasons of a drama series; and create limitations on what a company can count as a films qualifying Australian production expenditure; 15 Acts to make amendments consequential on new debt restructuring and liquidation processes for eligible incorporated small businesses; and 16 Acts in the Treasury portfolio to make miscellaneous and technical amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (COVID-19 Economic Response) Bill 2021

  Track (What's this?)

  Date

  16 Jun 2021 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  to extend the concessional tax treatment of payments received during the 2021-22 financial year by eligible businesses under eligible COVID-19 recovery grant programs administered by a state or territory government or authority; and

  Taxation Administration Act 1953

  to enable tax information to be disclosed to Services Australia for the purposes of administering the COVID-19 disaster payment. 

  Bill | Explanatory Memorandum