Treasury Laws Amendment (2023 Measures No. 1) Bill 2023

Originating house
House of Representatives
Parliament no

Track (What's this?)



Amends the: Corporations Act 2001 to: allow the Australian Securities and Investments Commission (ASIC) to approve applications from one or more licensees to register on the Financial Advisers Register the same relevant provider; and allow assisted decision-making to be used for any purpose for which ASIC may make decisions in the performance or exercise of its functions or powers to register a relevant provider; Australian Securities and Investments Commission Act 2001 to: provide the Australian Accounting Standards Board with functions to develop and formulate sustainability standards; expand the Auditing and Assurance Standards Board's functions to include formulating auditing and assurance standards for sustainability purposes; and expand the Financial Reporting Council's oversight and governance powers to account for the development of sustainability standards; Tax Agent Services Act 2009 to implement certain recommendations of the Review of the Tax Practitioners Board (TPB) by: amending the objects clause of the Act; creating a special account for the TPB; requiring tax practitioners not to employ or use a disqualified entity without the TPB's approval, or enter an arrangement with a disqualified entity; converting the registration period from at least every three years to at least every year; and enabling the minister to supplement the existing Code of Professional Conduct; Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997 to align the income tax treatment of off-market share buy-backs undertaken by listed public companies with on-market share buy-backs; and Income Tax Assessment Act 1997 to: ensure the alignment of tax treatment across capital management activities for listed public companies; and prevent certain distributions that are funded by capital raisings from being frankable.


House of Representatives
Introduced and read a first time 16 Feb 2023
Second reading moved 16 Feb 2023
Referred to Federation Chamber 07 Mar 2023
Second reading debate 07 Mar 2023
Second reading debate 08 Mar 2023
Second reading agreed to 08 Mar 2023
Consideration in detail debate 08 Mar 2023
Reported from Federation Chamber 09 Mar 2023
Third reading agreed to 09 Mar 2023
Introduced and read a first time 09 Mar 2023
Second reading moved 09 Mar 2023
Second reading debate 14 Nov 2023
Second reading agreed to 15 Nov 2023
Committee of the Whole debate
  • Amendment details: 16 Government and 2 Australian Greens agreed to
15 Nov 2023
Third reading agreed to 15 Nov 2023
House of Representatives
Consideration of Senate message
  • Details: House agreed to Senate amendments
16 Nov 2023
Finally passed both Houses 16 Nov 2023
  • Act no: 101
  • Year: 2023
27 Nov 2023

Documents and transcripts

Text of bill

Explanatory memoranda

Proposed amendments

House of representatives


Schedules of amendments

Bills digest


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.

We acknowledge the traditional owners and custodians of country throughout Australia and acknowledge their continuing connection to land, waters and community. We pay our respects to the people, the cultures and the elders past, present and emerging.

Aboriginal and Torres Strait Islander people are advised that this website may contain images and voices of deceased people.