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TOTAL RESULTS: 741

• Treasury Laws Amendment (Tax Integrity and Other Measures) Bill 2018

  Track (What's this?)

  Date

  28 Mar 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1936

  to provide that, when determining if the multinational anti-avoidance law applies to a scheme, supplies made and income received by a closely related trust or partnership are treated as being made or received by a foreign entity;

  Income Tax Assessment Act 1997

  to: include additional conditions that must be satisfied to apply the small business capital gains tax concessions to capital gains; and provide an income tax exemption for payments made under the Defence Force Ombudsman Scheme in relation to abuse by Australian Defence Force personnel; and

  Income Tax Assessment Act 1997

  ,

  Taxation Administration Act 1953

  and

  Venture Capital Act 2002

  to ensure that venture capital investment tax concessions are available for investments in fintech businesses. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2018 Measures No. 3) Bill 2018

  Track (What's this?)

  Date

  15 Feb 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Competition and Consumer Act 2010

  to: align the maximum penalties under the Australian Consumer Law (ACL) with the maximum penalties under the competition provisions of the Act; amend the ACL to provide for a safe harbour defence to an allegation of false, misleading or deceptive conduct where a person has complied with an information standard about free range eggs; and ensure the confidentiality of supplier information obtained by the Australian Energy Regulator in performing its wholesale market monitoring and reporting functions. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Illicit Tobacco Offences) Bill 2018

  Track (What's this?)

  Date

  15 Feb 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Taxation Administration Act 1953

  to: establish a tobacco offence regime for illicit tobacco that has been domestically manufactured or produced or for which the origin of production or manufacturing is unknown or uncertain; create new offences for possession of equipment for producing or manufacturing illicit tobacco; and adjust penalties for existing offences;

  Excise Act 1901

  to: allow for a person who possesses illicit tobacco to be issued with an infringement notice instead of being prosecuted for the offence in certain circumstances; clarify that illicit tobacco for which the origin of production or manufacturing is unknown or uncertain can be seized and forfeited; and define tobacco to align the meaning for excise and excise-equivalent customs duty purposes; and

  Income Tax Assessment Act 1997

  and

  Excise Act 1901

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Income Tax Consolidation Integrity) Bill 2018

  Track (What's this?)

  Date

  15 Feb 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Income Tax Assessment Act 1997

  to: remove a double benefit that can arise in relation to certain deductible liabilities held by an entity that joins a consolidated group; ensure that deferred tax liabilities are disregarded for the purposes of the operation of the entry and exit tax cost setting rules; prevent a double benefit from arising when an entity joins or leaves a consolidated group where the entity has securitised an asset; prevent non-residents churning assets between different consolidated groups to access double deductions; clarify the tax treatment of certain intra-group liabilities and assets between a continuing member of a consolidated group and an exiting member of the consolidated group; and prevent consolidated groups from accessing double deductions by shifting value across entities in the group. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2018 Measures No. 2) Bill 2018

  Track (What's this?)

  Date

  08 Feb 2018 

  Chamber

  House of Representatives 

  Status

  Not Proceeding 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Corporations Act 2001

  and

  National Consumer Credit Protection Act 2009

  to allow regulations to provide for exemptions from the Australian Financial Services Licence and Australian Credit Licence requirements for the purposes of testing financial and credit products and services under certain conditions;

  Income Tax Assessment Act 1997

  to amend the venture capital and early stage investor provisions to ensure that they operate as intended in relation to capital gains tax transactions, managed investment trusts and the early stage investor tax offset; and

  Income Tax Assessment Act 1936

  to amend the definition of public trading trusts. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 2) Bill 2018

  Track (What's this?)

  Date

  08 Feb 2018 

  Chamber

  House of Representatives 

  Status

  Not Proceeding 

  Portfolio

  Treasury 

  Summary

  Introduced with the Foreign Acquisitions and Takeovers Fees Imposition Amendment (Near-new Dwelling Interests) Bill 2018, the bill amends the:

  Income Tax Assessment Act 1997

  to: remove the entitlement to the capital gains tax (CGT) main residence exemption for foreign residents; and clarify that, for the purpose of determining whether an entity’s underlying value is principally derived from taxable Australian real property under the foreign resident CGT regime, the principal asset test is applied on an associate inclusive basis;

  Income Tax (Transitional Provisions) Act 1997

  to provide for transitional arrangements in relation to the main residence exemption;

  Foreign Acquisitions and Takeovers Act 1975

  to require a reconciliation payment to be made by developers who sell dwellings to foreign persons under a near-new dwelling exemption certificate; and

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to provide an additional affordable housing capital gains discount of up to 10 per cent. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2018 Measures No. 1) Bill 2018

  Track (What's this?)

  Date

  07 Feb 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Income Tax Assessment Act 1997

  ,

  Small Superannuation Accounts Act 1995

  ,

  Superannuation Guarantee (Administration) Act 1992

  and

  Superannuation (Unclaimed Money and Lost Members) Act 1999

  to enable the Commissioner of Taxation to pay certain superannuation amounts directly to individuals with a terminal medical condition;

  Corporations Act 2001

  to modify the notification and reporting obligations applying to certain corporations that have property in receivership or property in respect of which a controller is acting;

  Income Tax Assessment Act 1997

  ,

  Superannuation Laws Amendment (Capital Gains Tax Relief and Other Efficiency Measures) Act 2012

  and

  Tax Laws Amendment (2009 Measures No. 6) Act 2010

  to extend tax relief for merging superannuation funds until 1 July 2020;

  Australian Prudential Regulation Authority Act 1998

  to enable the Treasurer to take into account the ongoing cost of governing and maintaining the superannuation transaction network in determining the share of levy money that is payable to the Commonwealth;

  Retirement Savings Accounts Act 1997

  and

  Superannuation Industry (Supervision) Act 1993

  to transfer the regulator role for early release of superannuation benefits on compassionate grounds from the Chief Executive Medicare to the Commissioner of Taxation; and

  Taxation Administration Act 1953

  ,

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

  and

  Income Tax Assessment Act 1997

  to require purchasers of new residential premises and subdivisions of potential residential land to make a payment of part of the purchase price to the Australian Taxation Office. Also amends 13 Acts, and repeals seven Acts, to remove inoperative and spent provisions; and amends seven Acts to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Black Economy Taskforce Measures No. 1) Bill 2018

  Track (What's this?)

  Date

  07 Feb 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to prohibit the production, distribution, possession and use of sales suppression tools in relation to entities that have Australian tax obligations; and

  Taxation Administration Act 1953

  to require entities that provide courier or cleaning services to report to the Australian Taxation Office details of transactions that involve engaging other entities to undertake those courier or cleaning services for them. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (National Housing and Homelessness Agreement) Bill 2018

  Track (What's this?)

  Date

  25 Oct 2017 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Federal Financial Relations Act 2009

  to enable the Commonwealth to provide financial assistance to the states for housing, homelessness and housing affordability matters by: ceasing the National Specific Purpose Payment for Housing Services; and providing ongoing funding in accordance with a primary housing agreement, a supplementary housing agreement or a designated housing agreement. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Banking Executive Accountability and Related Measures) Bill 2018

  Track (What's this?)

  Date

  19 Oct 2017 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Banking Act 1959

  to: establish the Banking Executive Accountability Regime (BEAR) to impose accountability, remuneration, key personnel and notification obligations on authorised deposit-taking institutions and persons in director and senior executive roles; and provide the Australian Prudential Regulation Authority (APRA) with additional powers to investigate potential breaches of the BEAR and extend these powers to APRA’s other supervisory functions; and

  Australian Prudential Regulation Authority Act 1998

  and

  Banking Act 1959

  to make consequential amendments. 

  Bill | Explanatory Memorandum