Treasury Laws Amendment (Major Bank Levy) Bill 2017

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

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Summary

Introduced with the Major Bank Levy Bill 2017, the bill amends the: Australian Prudential Regulation Authority Act 1998 to enable the Australian Prudential Regulation Authority (APRA) to share major bank levy information with the Commissioner of Taxation; Financial Sector (Collection of Data) Act 2001 to enable the APRA reporting standards to include information relating to amounts for the purposes of the levy; Income Tax Assessment Act 1997 to provide for the indexation of the $100 billion threshold; and Taxation Administration Act 1953 to: specify that the levy is payable to the commissioner quarterly; ensure that the ordinary collection and recovery provisions apply in relation to the levy; introduce an anti-avoidance law for the levy; and enable the commissioner to share levy information with APRA.

Progress

House of Representatives
Introduced and read a first time 30 May 2017
Second reading moved 30 May 2017
Second reading debate 15 Jun 2017
Second reading debate 19 Jun 2017
Second reading agreed to 19 Jun 2017
Third reading agreed to 19 Jun 2017
Senate
Introduced and read a first time 19 Jun 2017
Second reading moved 19 Jun 2017
Second reading debate 19 Jun 2017
Second reading agreed to 19 Jun 2017
Committee of the Whole debate 19 Jun 2017
Third reading agreed to 19 Jun 2017
Finally passed both Houses 19 Jun 2017
Assent
  • Act no: 64
  • Year: 2017
23 Jun 2017

Documents and transcripts

Text of bill

Explanatory memoranda

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Notes

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.

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