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TOTAL RESULTS: 6049

• Treasury Laws Amendment (2019 Measures No. 1) Bill 2019

  Track (What's this?)

  Date

  13 Feb 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Excise Tariff Amendment (Supporting Craft Brewers) Bill 2019, the bill amends the:

  Superannuation Industry (Supervision) Act 1993

  ,

  Income Tax Assessment Act 1997

  and

  Superannuation (Unclaimed Money and Lost Members) Act 1999

  to: increase the maximum number of allowable members in self-managed superannuation funds (SMSFs) from four to six; align provisions that relate to SMSFs and small Australian Prudential Regulation Authority funds with the increased maximum number of members for SMSFs; and make contingent amendments to four Acts;

  Excise Tariff Act 1921

  to extend concessional rates of excise to brewers that supply draught beer in kegs or other containers with a capacity of eight litres or more that are designed for use with a pressurised gas delivery system or pump delivery system;

  Income Tax Assessment Act 1997

  and to extend the exemption for Global Infrastructure Hub Limited from the liability to pay income tax on its ordinary and statutory income to 30 June 2023; and 12 Acts to make minor technical amendments and repeal inoperative provisions. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2019 Measures No. 2) Bill 2019

  Track (What's this?)

  Date

  18 Sep 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  to extend the concessional tax treatment for genuine redundancy and early retirement scheme payments made to individuals who are 65 years or older provided the dismissal or retirement occurs before they reach pension age;

  A New Tax System (Luxury Car Tax) Act 1999

  to increase the refund amount that eligible primary producers and tourism operators can receive when luxury car tax is borne on the supply or import of an eligible vehicle;

  Competition and Consumer Act 2010

  to: increase the size of the board of the Australian Energy Regulator from three to five members and make changes to the operation of the board; and create a requirement that consumer data rules include an obligation on accredited data recipients to delete consumer data right data in response to a valid request from a consumer;

  Superannuation (Unclaimed Money and Lost Members) Act 1999

  to enable the Commissioner of Taxation to pay interest on amounts held by the commissioner that are proactively reunified with a person’s active superannuation account; and Superannuation (Unclaimed Money and Lost Members) Regulations 1999 to prescribe the rate of interest payable on inactive low balance accounts and amounts proactively reunified by the commissioner. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2019 Measures No. 3) Bill 2019

  Track (What's this?)

  Date

  05 Dec 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends: the

  Income Tax Assessment Act 1936

  to provide that the tax concessions available to minors for income from a testamentary trust apply only in respect of income generated from assets of the deceased estate transferred to the testamentary trust (or the proceeds of the disposal or investment of those assets); the

  Corporations Act 2001

  to defer the transitional timeframes for existing providers to comply with the education and training standard requiring completion of an approved degree or equivalent qualification and the passing of an approved exam to 1 January 2026 and 1 January 2022, respectively; and 30 Acts to make minor and technical amendments to laws relating to taxation, superannuation, corporations and credit. 

  Bill | Explanatory Memorandum

• 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 (2019 Tax Integrity and Other Measures No. 1) Bill 2019

  Track (What's this?)

  Date

  24 Jul 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1936

  to: remove a tax deduction which arises upon repayment of principal under a concessional loan by certain privatised entities;

  Income Tax Assessment Act 1997

  to: introduce a new additional basic condition in relation to partnerships for the small business capital gains tax concessions; and limit tax deductions for losses or outgoings incurred that relate to holding vacant land;

  Income Tax Assessment Act 1936

  and

  Taxation Administration Act 1953

  to extend to family trusts the anti-avoidance rules that apply to other closely held trusts that undertake circular trust distributions;

  Taxation Administration Act 1953

  to: allow taxation officers to disclose the business tax debt information of a taxpayer to credit reporting bureaus certain circumstances; and enable the Australian Taxation Office to develop and/or administer a framework or system for electronic invoicing; and

  Superannuation Guarantee (Administration) Act 1992

  to ensure that an individual’s salary sacrifice contributions cannot be used to reduce an employer’s minimum superannuation guarantee contributions. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2019-20 Bushfire Tax Assistance) Bill 2020

  Track (What's this?)

  Date

  05 Feb 2020 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Income Tax Assessment Act 1997

  in relation to the 2019-20 bushfires to: make government support payments to volunteer firefighters and relief and recovery payments and non-cash benefits provided by Australian governments non-assessable non-exempt income; and update the list of deductible gift recipients to include the Australian Volunteers Support Trust and the Community Rebuilding Trust. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2020 Measures No. 1) Bill 2020

  Track (What's this?)

  Date

  12 Feb 2020 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  to extend the circumstances in which an entity is a significant global entity; and

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to: amend the country by country (CBC) reporting requirements and the requirement to provide general purpose financial statements so that they apply to a subset of significant global entities (referred to as CBC reporting entities) rather than all significant global entities; and make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2020 Measures No. 2) Bill 2020

  Track (What's this?)

  Date

  13 May 2020 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  to: amend the hybrid mismatch rules; introduce a general category of deductible gift recipient (DGR) for community sheds; and update the list of DGRs to include eight new entities;

  Taxation Administration Act 1953

  to: broaden the amounts that employers can voluntarily report under the Single Touch Payroll rules to include employer withholding of child support deductions and child support garnishee amounts; and enable the disclosure of protected information, relating to the JobKeeper Scheme, to the Fair Work Commission and the Fair Work Ombudsman;

  Child Support (Assessment) Act 1989

  and

  Child Support (Registration and Collection) Act 1988

  to make consequential amendments; and

  International Finance Corporation Act 1955

  and

  International Monetary Agreements Act 1947

  to: establish frameworks under which Australia may enter into agreements with the International Bank for Reconstruction and Development and the International Finance Corporation of the World Bank Group to buy additional shares of their respective capital stocks; and authorise appropriations from the Consolidated Revenue Fund for the purposes of such payments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2020 Measures No. 3) Bill 2020

  Track (What's this?)

  Date

  12 Jun 2020 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  International Monetary Agreements Act 1947

  to: enable Australia to enter into loan agreements with the International Monetary Fund (IMF); enable Australia to meet its funding obligations under any such agreements, as well as under the existing New Arrangements to Borrow with the IMF; and enable Australia to continue to enter into agreements with other countries to provide them with financial assistance in support of a program of the IMF;

  Income Tax Assessment Act 1997

  to update the list of deductible gift recipients to include three new entities;

  Income Tax Assessment Act 1997

  and Income Tax (Transitional Provisions) Act 1997 to: extend the $150 000 instant asset write-off for a further six months until 31 December 2020; and adjust the criteria for access to the instant asset write-off for businesses that have adopted a substituted accounting period;

  Taxation Administration Act 1953

  to reduce the gross domestic product adjustment factor for the 2020-21 financial year to nil; and

  Boosting Cash Flow for Employers (Coronavirus Economic Response Package) Act 2020

  to clarify that the payments for which an entity can receive a cash flow boost payment include amounts that are subject to withholding under the special withholding obligations applying to certain personal service income payments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2020 Measures No. 4) Bill 2021

  Track (What's this?)

  Date

  28 Oct 2020 

  Chamber

  House of Representatives 

  Status

  Not Proceeding 

  Portfolio

  Treasury 

  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. 

  Bill | Explanatory Memorandum