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

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

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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.

Progress

House of Representatives
Introduced and read a first time 11 Aug 2021
Second reading moved 11 Aug 2021
Second reading debate 25 Aug 2021
Second reading debate 26 Aug 2021
Second reading agreed to 26 Aug 2021
Third reading agreed to 26 Aug 2021
Senate
Introduced and read a first time 31 Aug 2021
Second reading moved 31 Aug 2021
Second reading debate 02 Sep 2021
Second reading agreed to 02 Sep 2021
Third reading agreed to 02 Sep 2021
Finally passed both Houses 02 Sep 2021
Assent
  • Act no: 111
  • Year: 2021
13 Sep 2021

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.

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