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TOTAL RESULTS: 3785

• Treasury Laws Amendment (Combating Multinational Tax Avoidance) Bill 2017

  Track (What's this?)

  Date

  09 Feb 2017 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Diverted Profits Tax Bill 2017, the bill amends: five Acts to provide for a diverted profits tax from 1 July 2017 to ensure that significant global entities are not able to avoid their tax obligations by diverting profits generated in Australia offshore; the

  Taxation Administration Act 1953

  to increase the administrative penalties that can be imposed by the Commissioner of Taxation on significant global entities for breaching their tax reporting obligations; and the

  Income Tax Assessment Act 1997

  to update the reference to Organisation for Economic Cooperation and Development (OECD) transfer pricing guidelines in Australia’s cross-border transfer pricing rules to include the 2016 OECD amendments to the guidelines. 

  Bill | Explanatory Memorandum

• Competition and Consumer Amendment (Misuse of Market Power) Bill 2017

  Track (What's this?)

  Date

  01 Dec 2016 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Competition and Consumer Act 2010

  to: strengthen the prohibition on corporations with substantial market powers from engaging in conduct that has the purpose, effect or likely effect of substantially lessening competition in markets in which they directly or indirectly participate; remove provisions in relation to telecommunications-specific anti-competitive conduct and the competition notices and exemption order regime; and make consequential amendments. 

  Bill | Explanatory Memorandum

• Superannuation (Departing Australia Superannuation Payments Tax) Amendment Bill (No. 2) 2016

  Track (What's this?)

  Date

  01 Dec 2016 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the S

  uperannuation (Departing Australia Superannuation Payments Tax) Act 2007

  to reduce the rate of the departing Australia superannuation payments tax from 95 per cent to 65 per cent for working holiday makers. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (2016 Measures No. 1) Bill 2016

  Track (What's this?)

  Date

  01 Dec 2016 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Terrorism Insurance Act 2003

  to clarify that losses attributable to terrorist attacks using chemical or biological means are covered by the terrorism insurance scheme;

  Corporations Act 2001

  to: provide that employee share scheme disclosure documents lodged with the Australian Securities and Investments Commission are not made publicly available for certain start-up companies; and provide protection for retail client money and property held by financial services licensees in relation to over-the-counter derivative products;

  Income Tax Assessment Act 1997

  to update the list of deductible gift recipients; and

  Income Tax Assessment Act 1936

  and

  Income Tax Assessment Act 1997

  to provide income tax relief to eligible New Zealand special category visa holders who are impacted by disasters in Australia. 

  Bill | Explanatory Memorandum

• Income Tax Rates Amendment (Working Holiday Maker Reform) Bill 2016 (No. 2)

  Track (What's this?)

  Date

  28 Nov 2016 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Part of a package of four bills in relation to tax arrangements for working holiday makers, the bill amends the

  Income Tax Rates Act 1986

  to apply a 15 per cent income tax rate to assessable income derived by working holiday makers on amounts up to $37 000, with ordinary tax rates applying for taxable income exceeding this amount. 

  Bill | Explanatory Memorandum

• Corporations Amendment (Crowd-sourced Funding) Bill 2016

  Track (What's this?)

  Date

  24 Nov 2016 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Corporations Act 2001

  to: establish a framework to facilitate crowd-sourced funding offers by small unlisted public companies; provide new public companies that are eligible to crowd fund with temporary relief from certain reporting and corporate governance requirements; and enable the minister to provide that certain financial market and clearing and settlement facility operators are exempt from specified parts of the Australian Market Licence and clearing and settlement facility licencing regimes; and

  Australian Securities and Investments Commission Act 2001

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Corporations Amendment (Professional Standards of Financial Advisers) Bill 2016

  Track (What's this?)

  Date

  23 Nov 2016 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Corporations Act 2001

  to: require that certain financial advisers meet specified education and training standards and comply with a code of ethics; apply transitional arrangements to existing financial advisers; impose an obligation on an Australian financial services licensee to ensure that its financial advisers comply with the education standards and are covered by a compliance scheme; restrict the use of the titles ‘financial adviser’ and ‘financial planner’; amend the content requirements for the register of financial advisers; provide for sanctions where a financial adviser or licensee fails to comply with the new obligations; and establish a standards body which will approve foreign qualifications and develop and set the education standards and code of ethics; and

  Tax Agent Services Act 2009

  to provide for the Tax Practitioners Board and monitoring bodies to share information. 

  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

• Superannuation (Excess Transfer Balance Tax) Imposition Bill 2016

  Track (What's this?)

  Date

  03 Nov 2016 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016, the bill imposes an excess transfer balance tax on the notional earnings of capital moved into a retirement phase superannuation account that is in excess of $1.6 million. 

  Bill | Explanatory Memorandum

• Corporations Amendment (Life Insurance Remuneration Arrangements) Bill 2016

  Track (What's this?)

  Date

  12 Oct 2016 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Corporations Act 2001

  to: remove the exemption from the conflicted remuneration ban on benefits paid in relation to certain life risk insurance products; enable regulations to prescribe other circumstances where a benefit paid in relation to life insurance is conflicted remuneration even where no advice is provided; enable the Australian Securities and Investments Commission to permit benefits in relation to life risk insurance products when certain requirements are met; and ban volume based payments in life risk products. 

  Bill | Explanatory Memorandum