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Treasury Laws Amendment (2020 Measures No. 4) Bill 2020

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Before Reps
Parliament no
46

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Summary

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.

Progress

House of Representatives
Introduced and read a first time 28 Oct 2020
Second reading moved 28 Oct 2020

Documents and transcripts

Text of bill

Explanatory memoranda

Proposed amendments

Senate

Schedules of amendments

No documents at present

Notes

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.