Treasury Laws Amendment (2020 Measures No. 3) Bill 2020

Originating house
House of Representatives
Parliament no

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Amends the: International Monetary Agreements Act 1947 to: enable Australia to enter into loan agreements with the International Monetary Fund (IMF); enable Australia to meet its funding obligations under any such agreements, as well as under the existing New Arrangements to Borrow with the IMF; and enable Australia to continue to enter into agreements with other countries to provide them with financial assistance in support of a program of the IMF; Income Tax Assessment Act 1997 to update the list of deductible gift recipients to include three new entities; Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 to: extend the $150 000 instant asset write-off for a further six months until 31 December 2020; and adjust the criteria for access to the instant asset write-off for businesses that have adopted a substituted accounting period; Taxation Administration Act 1953 to reduce the gross domestic product adjustment factor for the 2020-21 financial year to nil; and Boosting Cash Flow for Employers (Coronavirus Economic Response Package) Act 2020 to clarify that the payments for which an entity can receive a cash flow boost payment include amounts that are subject to withholding under the special withholding obligations applying to certain personal service income payments.


House of Representatives
Introduced and read a first time 12 Jun 2020
Second reading moved 12 Jun 2020
Second reading debate 18 Jun 2020
Second reading agreed to 18 Jun 2020
Third reading agreed to 18 Jun 2020
Introduced and read a first time 18 Jun 2020
Second reading moved 18 Jun 2020
Second reading agreed to 18 Jun 2020
Third reading agreed to 18 Jun 2020
Finally passed both Houses 18 Jun 2020
  • Act no: 61
  • Year: 2020
19 Jun 2020

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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