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TOTAL RESULTS: 3785

• Treasury Laws Amendment (Financial Sector Regulation) Bill 2018

  Track (What's this?)

  Date

  28 Jun 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Financial Sector (Shareholdings) Act 1998

  to: increase from 15 per cent to 20 per cent the ownership restriction applying to life insurance and general insurance companies, authorised deposit-taking institutions (ADIs) and relevant holding companies; and create a streamlined path for owners of qualifying domestically incorporated companies with assets less than the relevant threshold applying to become a financial sector company; and

  Banking Act 1959

  to: enable the Australian Prudential Regulation Authority to grant a new entrant to the banking sector a time limited ADI licence; and correct a drafting error. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016

  Track (What's this?)

  Date

  09 Nov 2016 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Superannuation (Excess Transfer Balance Tax) Imposition Bill 2016, the bill amends: five Acts to impose a $1.6 million cap on the amount of capital that can be transferred to the tax-free earnings retirement phase of superannuation; the

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to: introduce additional income tax rules on recipients of certain defined benefit income streams in excess of $100 000 per annum; and reduce the threshold at which high-income earners pay Division 293 tax on their concessional taxed contribution to superannuation to $250 000; the

  Income Tax (Transitional Provisions) Act 1997

  to provide transitional capital gains tax relief for superannuation funds that adjust their asset allocations before 1 July 2017; the

  Income Tax Assessment Act 1997

  and

  Income Tax (Transitional Provisions) Act 1997

  to reduce the annual concessional contributions cap to $25 000 and the annual non-concessional contributions cap to $100 000; introduce criteria for an individual to be eligible for the non-concessional contributions cap and make minor amendments to the non-concessional contributions rules; and remove the anti-detriment deduction; the

  Superannuation Guarantee (Administration) Act 1992

  to amend how the maximum contribution base is determined; the

  Superannuation (Government Co-contribution for Low Income Earners) Act 2003

  to enable eligible low income earners to receive the low income superannuation tax offset; the

  Income Tax Assessment Act 1997

  to: remove the requirement that an individual must earn less than 10 per cent of their income to be able to claim a deduction for personal superannuation contributions; enable catch-up concessional contributions; extend the spouse superannuation tax offset; and amend the earnings tax exemption for complying superannuation funds, retirement savings account providers and life insurance companies; and 11 Acts to make administration and consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016

  Track (What's this?)

  Date

  01 Sep 2016 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Rates Act 1986

  to: reduce the corporate tax rate for small businesses with an aggregated turnover of less than $10 million to 27.5 per cent for the 2016-17 financial year and progressively extend that lower rate to all corporate tax entities by the 2023-24 financial year; and further reduce the corporate tax rate in stages so that by the 2026 27 financial year, the corporate tax rate for all entities will be 25 per cent;

  Income Tax Assessment Act 1997

  to: increase the small business income tax offset to 16 per cent of an eligible individual’s basic income tax liability that relates to their total net small business income from the 2026-27 financial year; and enable small businesses with an aggregated turnover of less than $10 million to access most small business tax concessions, and small businesses with an aggregated turnover of less than $5 million to access the small business income tax offset; and

  Income Tax Assessment Act 1936

  and

  Income Tax Assessment Act 1997

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2018

  Track (What's this?)

  Date

  18 Oct 2017 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Rates Act 1986

  to provide that a corporate tax entity will not qualify for the lower 27.5 per cent corporate tax rate if more than 80 per cent of its assessable income is income of a passive nature; and

  Income Tax Assessment Act 1997

  and

  Income Tax Rates Act 1986

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Enhancing Whistleblower Protections) Bill 2018

  Track (What's this?)

  Date

  07 Dec 2017 

  Chamber

  Senate 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Corporations Act 2001

  to consolidate and broaden the existing protections and remedies for corporate and financial sector whistleblowers;

  Taxation Administration Act 1953

  to create a whistleblower protection regime for disclosures of information by individuals regarding breaches of the tax laws or misconduct relating to an entity’s tax affairs; and

  Banking Act 1959

  ,

  Insurance Act 1973

  ,

  Life Insurance Act 1995

  and

  Superannuation Industry (Supervision) Act 1993

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021

  Track (What's this?)

  Date

  27 Oct 2021 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Superannuation Guarantee (Administration) Act 1992

  to remove the $450-a-month threshold before an employee's salary or wages count towards the superannuation guarantee;

  Taxation Administration Act 1953

  to increase the limit on the maximum amount of voluntary contributions made over multiple financial years that are eligible to be released under the First Home Super Saver Scheme from $30 000 to $50 000;

  Income Tax Assessment Act 1997

  to: enable individuals aged 60 and above to make downsizer contributions to their superannuation plan from the proceeds of selling their home; apply the work test to individuals aged between 67 and 75 who claim a deduction for personal superannuation contributions and allow such individuals to make or receive non-concessional superannuation contributions under the bring forward rule; and enable superannuation trustees to choose their preferred method of calculating exempt current pension income when they have member interests in both accumulation and retirement phases for part, but not all, of the income year; and

  Income Tax (Transitional Provisions) Act 1997

  to extend the temporary full expensing regime to 30 June 2023. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Enhancing ASIC’s Capabilities) Bill 2018

  Track (What's this?)

  Date

  28 Mar 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Australian Securities and Investments Commission Act 2001

  to: require the Australian Securities and Investments Commission (ASIC) to consider the effects that the performance of its functions and the exercise of its powers will have on competition in the financial system; and remove the requirement for ASIC to engage staff under the

  Public Service Act 1999

  ; and

  Australian Securities and Investments Commission Act 2001

  ,

  Business Names Registration Act 2011

  ,

  Corporations Act 2001

  and

  Mutual Assistance in Business Regulation Act 1992

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Ending Grandfathered Conflicted Remuneration) Bill 2019

  Track (What's this?)

  Date

  01 Aug 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Implements a recommendation of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry by amending the

  Corporations Act 2001

  to: remove grandfathering arrangements for conflicted remuneration and other banned remuneration from 1 January 2021; and enable regulations to provide for a scheme under which amounts that would otherwise have been paid as conflicted remuneration are rebated to affected customers. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Bill 2019

  Track (What's this?)

  Date

  20 Sep 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Corporations Act 2001

  to introduce design and distribution obligations in relation to financial products;

  Corporations Act 2001

  and

  National Consumer Credit Protection Act 2009

  to introduce a product intervention power for the Australian Securities and Investments Commission to prevent or respond to significant consumer detriment; and

  Australian Securities and Investments Commission Act 2001

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Cyclone and Flood Damage Reinsurance Pool) Bill 2022

  Track (What's this?)

  Date

  09 Feb 2022 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Terrorism Insurance Act 2003

  to: establish a framework for a cyclone and cyclone-related flood damage reinsurance pool by extending the operation of the terrorism reinsurance scheme administered by the Australian Reinsurance Pool Corporation (ARPC); and amend the title of the Act to the

  Terrorism and Cyclone Insurance Act 2003

  ; and

  Insurance Act 1973

  to create a civil penalty for insurers who do not reinsure eligible cyclone risks with the ARPC. 

  Bill | Explanatory Memorandum