Search all bills

TOTAL RESULTS: 741

• Treasury Laws Amendment (2019 Petroleum Resource Rent Tax Reforms No. 1) Bill 2019

  Track (What's this?)

  Date

  13 Feb 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Offshore Petroleum and Greenhouse Gas Storage Act 2006

  and

  Petroleum Resource Rent Tax Assessment Act 1987

  to reduce the uplift rates that apply to certain categories of carried-forward expenditure;

  Petroleum Resource Rent Tax Assessment Act 1987

  to remove onshore projects from the scope of the petroleum resource rent tax (PRRT); and

  Excise Tariff Act 1921

  and

  Income Tax Assessment Act 1997

  to remove certain exclusions from the PRRT that are no longer necessary following the exclusion of onshore petroleum projects. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019

  Track (What's this?)

  Date

  13 Feb 2019 

  Chamber

  House of Representatives 

  Status

  Not Proceeding 

  Portfolio

  Treasury 

  Summary

  Amends: the

  Corporations Act 2001

  to: introduce new criminal offences and civil penalty provisions for company officers that fail to prevent the company from making creditor-defeating dispositions and other persons that facilitate a company making a creditor-defeating disposition; allow liquidators to apply for a court order in relation to a voidable creditor-defeating disposition; enable the Australian Securities and Investments Commission to make orders to recover, for the benefit of a company's creditors, company property disposed of or benefits received under a voidable creditor-defeating disposition; prevent directors from improperly backdating resignations or ceasing to be a director when this would leave a company with no directors; and make amendments contingent on the commencement of the

  Corporations Amendment (Strengthening Protections for Employee Entitlements) Act 2019

  and

  Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019

  ; the

  A New Tax System (Goods and Services Tax) Act 1999

  and

  Taxation Administration Act 1953

  to enable the Commissioner of Taxation to collect estimates of anticipated goods and services tax (GST) liabilities and make company directors personally liable for their company's GST liabilities in certain circumstances; the

  Taxation Administration Act 1953

  to authorise the commissioner to retain tax refunds where a taxpayer has failed to lodge a return or provide other information that may affect the amount of a refund; and five Acts to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Consumer Data Right) Bill 2019

  Track (What's this?)

  Date

  13 Feb 2019 

  Chamber

  House of Representatives 

  Status

  Not Proceeding 

  Portfolio

  Treasury 

  Summary

  Amends the

  Competition and Consumer Act 2010

  ,

  Australian Information Commissioner Act 2010

  and

  Privacy Act 1988

  to create the Consumer Data Right to provide individuals and businesses with a right to access specified data in relation to them held by businesses. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Increasing and Extending the Instant Asset Write-Off) Bill 2019

  Track (What's this?)

  Date

  13 Feb 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Income Tax Assessment Act 1997

  and

  Income Tax (Transitional Provisions) Act 1997

  to: extend by 12 months to 30 June 2020 the period during which small business entities can access expanded accelerated depreciation rules (instant asset write-off); and increase the threshold below which amounts can be immediately deducted under the rules from $20 000 to $25 000 from 29 January 2019 until 30 June 2020. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Mutual Reforms) Bill 2019

  Track (What's this?)

  Date

  13 Feb 2019 

  Chamber

  Senate 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Implements certain recommendations of the

  Report on Reforms for Cooperatives, Mutuals and Member-owned Firms

  (the Hammond report) by amending the:

  Corporations Act 2001

  to: introduce a definition of 'mutual entity'; clarify for transferring financial institutions and friendly societies that the demutualisation provisions apply only if an entity no longer meets the new definition of a mutual entity; provide for mutual capital instruments as a new bespoke capital instrument for mutual entities; and provide for eligible mutual entities to amend their constitutions by a standardised process to take advantage of the new arrangements; and

  Financial Sector (Shareholdings) Act 1998

  ,

  Income Tax Assessment Act 1936

  ,

  Income Tax Assessment Act 1997

  and

  Insurance Acquisitions and Takeovers Act 1991

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019

  Track (What's this?)

  Date

  13 Feb 2019 

  Chamber

  House of Representatives 

  Status

  Not Proceeding 

  Portfolio

  Treasury 

  Summary

  Introduced with the Commonwealth Registers Bill 2019, Business Names Registration (Fees) Amendment (Registries Modernisation) Bill 2019, Corporations (Fees) Amendment (Registries Modernisation) Bill 2019 and National Consumer Credit Protection (Fees) Amendment (Registries Modernisation) Bill 2019 to create a new Commonwealth business registry regime, the bill: amends 12 Acts to bring 35 existing business registers into the new regime; and

  Corporations (Aboriginal and Torres Strait Islander) Act 2006

  ,

  Corporations Act 2001

  ,

  Income Tax Assessment Act 1936

  and

  Taxation Administration Act 1953

  to introduce a director identification number requirement. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2018

  Track (What's this?)

  Date

  05 Dec 2018 

  Chamber

  House of Representatives 

  Status

  Not Proceeding 

  Portfolio

  Treasury 

  Summary

  Amends the

  Competition and Consumer Act 2010

  to: prohibit certain conduct in electricity retail, contract and wholesale markets, broadly relating to retail pricing, financial contract market liquidity and conduct in wholesale spot markets; provide remedies which the ACCC may use if it reasonably believes a corporation has engaged, or is engaging, in prohibited conduct in the electricity sector; enable the Treasurer, following the receipt of a prohibited conduct recommendation from the ACCC, to issue a written order to a corporation or another body to make offers to enter into electricity financial contracts with third party entities; enable the Treasurer, following the receipt of a prohibited conduct recommendation from the ACCC, to apply to the Federal Court (the court) for a divestiture order and for the court to make related orders that a corporation or another body corporate dispose of interests in securities or assets that are part of its electricity business; set out the notice and recommendation procedures that must be followed before an order can be made in respect of a corporation or another body corporate; confer new compulsory information gathering powers on the Australian Energy Regulator (AER); allow the AER to share information with other agencies; and facilitate the conferral of functions related to the regulation of retail electricity prices on the AER. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Bill 2018

  Track (What's this?)

  Date

  24 Oct 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Implements certain recommendations of the ASIC Enforcement Review Taskforce by amending the

  Corporations Act 2001

  ,

  Australian Securities and Investments Commission Act 2001

  ,

  National Consumer Credit Protection Act 2009

  and

  Insurance Contracts Act 1984

  to: introduce a stronger penalty framework for corporate and financial sector misconduct; and make miscellaneous technical and consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Making Sure Every State and Territory Gets Their Fair Share of GST) Bill 2018

  Track (What's this?)

  Date

  18 Oct 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Gives effect to elements of the Government’s interim response to the Productivity Commission’s report

  Horizontal Fiscal Equalisation

  by amending the:

  Commonwealth Grants Commission Act 1973

  to require the Treasurer, when framing the annual terms of reference for a Commonwealth Grants Commission (CGC) inquiry into how the goods and services tax (GST) should be distributed among the states and territories, to require the CGC to transition the horizontal fiscal equalisation system from full equalisation (equalised to the strongest state or territory) to reasonable equalisation (equalised to the stronger of New South Wales and Victoria); and

  Federal Financial Relations Act 2009

  to: introduce a minimum GST revenue sharing relativity that may be determined by the Treasurer for any individual state or territory for a financial year; boost the annual funding pool from which GST revenue grants are made to the states and territories with additional Commonwealth financial assistance each year; and provide a guarantee, by way of additional Commonwealth financial assistance, to each state or territory that would have received a greater overall entitlement under the current distribution system as compared to the updated distribution system during the transition period. Also provides for a review of the operation of the Act by the Productivity Commission by 31 December 2026. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Lower Taxes for Small and Medium Businesses) Bill 2018

  Track (What's this?)

  Date

  16 Oct 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Brings forward tax relief for small and medium businesses by amending the

  Treasury Laws Amendment (Enterprise Tax Plan) Act 2017

  to: reduce the corporate tax rate for corporate tax entities that derive no more than 80 per cent of their income in passive forms and have an aggregated turnover of less than $50 million (base rate entities) to 26 per cent for the 2020-21 financial year and to 25 per cent from the 2021-22 financial year; increase the small business income tax offset rate for small businesses that have an aggregated turnover of less than $5 million to 13 per cent for the 2020-21 financial year and to 16 per cent from the 2021-22 financial year; and make consequential amendments. 

  Bill | Explanatory Memorandum