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TOTAL RESULTS: 3785

• Treasury Laws Amendment (North Queensland Flood Recovery) Bill 2019

  Track (What's this?)

  Date

  02 Apr 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Income Tax Assessment Act 1997

  to: make certain flood recovery grants and restocking, replanting and farm infrastructure grants non-assessable non-exempt income if they relate to flooding that commenced in the period between 25 January and 28 February 2019 in North Queensland; and exempt from income tax certain payments to primary producers that relate to storm damage sustained on or around 25 October 2018. Also establishes a special appropriation of $1.75 billion to enable the implementation of a loan scheme to provide urgent assistance for eligible primary producers affected by the floods in Northern Queensland in 2019. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (OECD Multilateral Instrument) Bill 2018

  Track (What's this?)

  Date

  28 Mar 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  International Tax Agreements Act 1953

  to: give legislative effect to the

  Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting

  ; and make technical amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Personal Income Tax Plan) Bill 2018

  Track (What's this?)

  Date

  09 May 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  ,

  Income Tax Assessment Act 1936

  and

  Taxation Administration Act 1953

  to: introduce a low and middle income tax offset to reduce the tax payable by low and middle income earners that are Australian residents in the 2018-19, 2019-20, 2020-21 and 2021-22 financial years; and merge the low and middle income offset and the current low income tax offset into a new low income tax offset from the 2022-23 financial year;

  Income Tax Rates Act 1986

  to progressively increase the income tax rate thresholds in the 2018-19, 2022-23 and 2024-25 financial years; and Income Tax Assessment (1936 Act) Regulation 2015 and five Acts to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2019

  Track (What's this?)

  Date

  18 Sep 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the

  Competition and Consumer Act 2010

  to: prohibit certain conduct in electricity retail, contract and wholesale markets, broadly relating to retail pricing, financial contract market liquidity and conduct in wholesale spot markets; provide powers and remedies which the ACCC may use if it reasonably believes a corporation has engaged, or is engaging, in prohibited conduct in the electricity sector; enable the Treasurer, following the receipt of a prohibited conduct recommendation from the ACCC, to issue a written order to a corporation or another body to make offers to enter into electricity financial contracts with third party entities; enable the Treasurer, following the receipt of a prohibited conduct recommendation from the ACCC, to apply to the Federal Court (the court) for a divestiture order and for the court to make related orders that a corporation or another body corporate dispose of interests in securities or assets that are part of its electricity business; set out the notice and recommendation procedures that must be followed before an order can be made in respect of a corporation or another body corporate; confer new compulsory information gathering powers on the Australian Energy Regulator (AER); allow the AER to share information with other agencies; and facilitate the conferral of functions related to the regulation of retail electricity prices on the AER. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018

  Track (What's this?)

  Date

  21 Jun 2018 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Superannuation Industry (Supervision) Act 1993

  to: prevent trustees of superannuation funds from charging certain fees and costs exceeding 3 per cent of the balance of a MySuper or choice product annually where the balance of the account is below $6000; and prevent trustees from providing opt out insurance to new members aged under 25 years, members with balances below $6000 and members with inactive MySuper or choice accounts, unless a member has directed otherwise; and

  Superannuation (Unclaimed Money and Lost Members) Act 1999

  to: require the transfer of all superannuation savings with a balance below $6000 to the Commissioner of Taxation if an account related to a MySuper or choice product has been inactive for a continuous period of 13 months; and enable the commissioner to consolidate amounts that have been paid as unclaimed money, inactive low-balance accounts and lost member accounts into an active superannuation account where the reunited balance would be greater than $6000; and

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Putting Consumers First—Establishment of the Australian Financial Complaints Authority) Bill 2017

  Track (What's this?)

  Date

  14 Sep 2017 

  Chamber

  Senate 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends: the

  Corporations Act 2001

  and 12 other Acts to introduce a new external dispute resolution scheme, known as the Australian Financial Complaints Authority (AFCA), to resolve disputes about products and services provided by financial firms; and five Acts to: require firms that must participate in the enhanced internal dispute resolution (IDR) framework to report their IDR activities to the Australian Securities and Investments Commission (ASIC) in accordance with ASIC requirements; provide ASIC with additional powers to determine the content and form of IDR reporting by IDR Firms and to publish this data at both the aggregate and firm level; and allow ASIC to specify, by legislative instrument, requirements for trustees and retirement savings account providers to provide written reasons for decisions in relation to complaints. Also repeals the

  Superannuation (Resolution of Complaints) Act 1993

  and makes consequential amendments to 11 Acts. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Putting Members’ Interests First) Bill 2019

  Track (What's this?)

  Date

  04 Jul 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Superannuation Industry (Supervision) Act 1993

  to prevent trustees from providing insurance on an opt out basis to members who are under 25 years old and begin to hold a new product on or after 1 October 2019, and to members who hold products with balances below $6000; and

  Superannuation (Unclaimed Money and Lost Members) Act 1999

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019

  Track (What's this?)

  Date

  18 Sep 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  and

  Superannuation Guarantee (Administration) Act 1992

  to provide for a one-off amnesty to encourage employers to self-correct historical superannuation guarantee non compliance; and

  Superannuation Guarantee (Administration) Act 1992

  to limit the Commissioner of Taxation’s ability to remit penalties for historical superannuation guarantee non-compliance, where an employer fails to disclose information relevant to their historical superannuation guarantee shortfall. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Bill 2017

  Track (What's this?)

  Date

  07 Sep 2017 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the First Home Super Saver Tax Bill 2017 to establish the First Home Super Saver Scheme, the bill amends: 10 Acts to enable first home savers to make voluntary contributions into the superannuation system and to withdraw those contributions and associated earnings for the purposes of purchasing their first home; and the

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to allow an individual aged 65 years or over to use the proceeds of one sale of their main residence to make contributions (downsizer contributions) of up to $300 000 to their superannuation. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019

  Track (What's this?)

  Date

  23 Oct 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Foreign Acquisitions and Takeovers Fees Imposition Amendment (Near-new Dwelling Interests) Bill 2019, the bill amends the:

  Income Tax Assessment Act 1997

  to: remove the entitlement to the capital gains tax (CGT) main residence exemption for foreign residents; and clarify that, for the purpose of determining whether an entity’s underlying value is principally derived from taxable Australian real property under the foreign resident CGT regime, the principal asset test is applied on an associate inclusive basis;

  Income Tax (Transitional Provisions) Act 1997

  to provide for transitional arrangements in relation to the main residence exemption;

  Foreign Acquisitions and Takeovers Act 1975

  to require a reconciliation payment to be made by developers who sell dwellings to foreign persons under a near-new dwelling exemption certificate; and

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to provide an additional affordable housing capital gains discount of up to 10 per cent. 

  Bill | Explanatory Memorandum