Second Reading Speeches

Treasury Laws Amendment (2018 Measures No. 4) Bill 2018

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
45

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Summary

Amends: taxation legislation to: enable the Commissioner of Taxation to issue directions to employers to pay unpaid superannuation guarantee and undertake superannuation guarantee education courses, and to disclose more information about superannuation guarantee non-compliance to affected employees; extend Single Touch Payroll reporting to all employers; require more regular reporting by superannuation funds; strengthen the commissioner’s ability to collect superannuation guarantee charge and pay as you go withholding liabilities; enable the pre-filling of an individual’s tax file number declaration and superannuation standard choice force form by the commissioner to the individual’s employer; and enable the sharing and verification of tax file numbers between the commissioner and Commonwealth agencies; the

Superannuation Legislation Amendment (MySuper Core Provisions) Act 2012
to clarify the commencement of certain provisions; the
Tax Laws Amendment (Implementation of the Common Reporting Standard) Act 2016
to ensure that financial institutions report information about financial accounts held by foreign tax residents as intended; the
Fuel Tax Act 2006
,
Income Tax Assessment Act 1997
and
Taxation Administration Act 1953
to make amendments consequential on regulations; five Acts to rewrite provisions in relation to offshore information notices from the
Income Tax Assessment Act 1936
to the
Taxation Administration Act 1953
and apply those provisions to all tax-related liabilities; 10 Acts to make miscellaneous amendments; the
Superannuation (Resolution of Complaints) Act 1993
to enable the disclosure of certain information acquired in connection with a complaint made to the Superannuation Complaints Tribunal; and the
Income Tax Assessment Act 1997
to update the list of deductible gift recipients.