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TOTAL RESULTS: 3785

• Treasury Laws Amendment (Increasing and Extending the Instant Asset Write-Off) Bill 2019

  Track (What's this?)

  Date

  13 Feb 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Income Tax Assessment Act 1997

  and

  Income Tax (Transitional Provisions) Act 1997

  to: extend by 12 months to 30 June 2020 the period during which small business entities can access expanded accelerated depreciation rules (instant asset write-off); and increase the threshold below which amounts can be immediately deducted under the rules from $20 000 to $25 000 from 29 January 2019 until 30 June 2020. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Income Tax Relief) 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 increase the third personal income tax threshold so that the rate of tax payable on taxable incomes from $80 001 to $87 000 for individuals is 32.5 per cent. 

  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 (Improving Accountability and Member Outcomes in Superannuation Measures No. 1) Bill 2019

  Track (What's this?)

  Date

  14 Sep 2017 

  Chamber

  Senate 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Superannuation Laws Amendment (Strengthening Trustee Arrangements) Bill 2017, the bill amends the:

  Superannuation Industry (Supervision) Act 1993

  to: require trustees to assess on an annual basis whether the outcomes that are being delivered by MySuper products are promoting the financial interests of MySuper members; allow the Australian Prudential Regulation Authority (APRA) to refuse, or cancel, an authority to offer a MySuper product if it has a reason to believe the registrable superannuation entity (RSE) licensee may fail to comply with its obligations; impose civil and criminal penalties on directors of RSE licensees who fail to execute their responsibilities to act in the best interests of members, or who use their position to further their own interests to the detriment of members; enable APRA to refuse authority for a change in ownership or control where it has concerns about the person seeking ownership or control, give a direction to a person to relinquish control of a RSE licensee and remove or suspend an RSE licensee where it is subject to the control of its owner; align APRA’s directions powers in relation to the superannuation industry with its broader directions powers in the banking and insurance industries; and require RSE licensees to hold annual members’ meetings;

  Corporations Act 2001

  and

  Superannuation Industry (Supervision) Act 1993

  to require superannuation funds to disclose on a semi-annual basis investments that they hold directly or through associated entities and initial investments into non-associated entities;

  Financial Sector (Collection of Data) Act 2001

  to provide APRA with the ability to obtain information on expenses incurred by RSE and RSE licensees in managing or operating the RSE; and

  Australian Prudential Regulation Authority Act 1998

  to make consequential amendments. 

  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 (Housing Tax Integrity) Bill 2017

  Track (What's this?)

  Date

  07 Sep 2017 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Foreign Acquisitions and Takeovers Fees Imposition Amendment (Vacancy Fees) Bill 2017, the bill amends the:

  Income Tax Assessment Act 1997

  to: provide that travel expenditure incurred in gaining or producing assessable income from residential premises is not deductible, and not recognised in the cost base of the property for capital gains tax purposes; and limit deductions for plant and equipment assets used for producing assessable income from residential premises to when the asset was first used for a taxable purpose;

  Foreign Acquisitions and Takeovers Act 1975

  to implement an annual vacancy fee on foreign owners of residential real estate where residential property is not occupied or genuinely available on the rental market for at least six months in a 12-month period; and

  Taxation Administration Act 1953

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (GST Low Value Goods) Bill 2017

  Track (What's this?)

  Date

  16 Feb 2017 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

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

  to ensure that goods and services tax is payable on certain supplies of low value goods that are purchased by consumers and are imported into Australia; and

  Taxation Administration Act 1953

  to broaden administrative penalties for making false or misleading statements. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (GST Integrity) Bill 2017

  Track (What's this?)

  Date

  01 Jun 2017 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

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

  to: introduce a reverse charge for business to business transactions between suppliers and purchasers of gold, silver and platinum to remove the opportunity for a supplier to avoid paying goods and services tax (GST) by liquidating; and ensure that entities cannot exploit the special GST treatment for second-hand goods to claim input tax credits by changing the form of a precious metal. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Gift Cards) Bill 2018

  Track (What's this?)

  Date

  20 Sep 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Competition and Consumer Act 2010

  to introduce a national regime to regulate gift cards, including requirements that: gift cards must have a minimum three year expiry period; information about the expiry of a gift card must be displayed prominently on the card itself; terms and conditions cannot allow certain post-supply fees to be charged; and certain fees cannot be charged after a gift card is supplied. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Foreign Resident Capital Gains Withholding Payments) Bill 2017

  Track (What's this?)

  Date

  01 Jun 2017 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Taxation Administration Act 1953

  to modify the foreign resident capital gains withholding payments regime to: increase the withholding rate from 10 per cent to 12.5 per cent; and reduce the withholding threshold from $2 million to $750 000. 

  Bill | Explanatory Memorandum