Tax Laws Amendment (Tougher Penalties for Country-by-Country Reporting) Bill 2016

Type
Private
Sponsor(s)
LEIGH, Andrew, MP
Originating house
House of Representatives
Status
Not Proceeding
Parliament no
44

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Summary

Amends the Income Tax Assessment Act 1997 and Taxation Administration Act 1953 to introduce a penalty regime for significant global entities who fail to meet their country-by-country reporting obligations.

Progress

House of Representatives
Introduced and read a first time 02 May 2016
Second reading moved 02 May 2016
Lapsed at dissolution 09 May 2016

Documents and transcripts

Text of bill

Explanatory memoranda

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Helpful information

Text of bill

  • First reading: Text of the bill as introduced into the Parliament
  • Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
  • As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

  • Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
  • Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
  • Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changes to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.

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