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TOTAL RESULTS: 741

• Treasury Laws Amendment (Streamlining and Improving Economic Outcomes for Australians) Bill 2022

  Track (What's this?)

  Date

  17 Feb 2022 

  Chamber

  House of Representatives 

  Status

  Not Proceeding 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Corporations Act 2001

  to: provide certain foreign financial service providers with exemptions from the requirement to hold an Australian financial services licence and from the fit and proper person test; and enable the minister to determine regulators that administer broadly comparable regulatory regimes;

  Corporations Act 2001

  ,

  Australian Securities and Investments Commission Act 2001

  and

  Superannuation Industry (Supervision) Act 1993

  to impose financial reporting and auditing requirements on registrable superannuation entities that are consistent with those that currently apply to public companies and registered schemes; and

  Taxation Administration Act 1953

  to enable small business entities to apply to the Administrative Appeals Tribunal (AAT) for an order staying, or otherwise affecting, the operation or implementation of decisions of the Commissioner of Taxation that are being reviewed by the AAT. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Self Managed Superannuation Funds) Bill 2020

  Track (What's this?)

  Date

  02 Sep 2020 

  Chamber

  Senate 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Superannuation Industry (Supervision) Act 1993

  to increase the maximum number of allowable members from four to six in self managed superannuation funds and small APRA funds; and

  Corporations Act 2001

  ,

  Income Tax Assessment Act 1997

  ,

  Superannuation Industry (Supervision) Act 1993

  and

  Superannuation (Unclaimed Money and Lost Members) Act 1999

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Reuniting More Superannuation) Bill 2020

  Track (What's this?)

  Date

  06 Feb 2020 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Retirement Savings Accounts Act 1997

  ,

  Superannuation Industry (Supervision) Act 1993

  and

  Superannuation (Unclaimed Money and Lost Members) Act 1999

  to: facilitate the closure of eligible rollover funds by 30 June 2021; and enable the Commissioner of Taxation to reunite amounts he or she receives from eligible rollover funds with a member's active account; and

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to make consequential amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024

  Track (What's this?)

  Date

  05 Jun 2024 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Capital Works (Build to Rent Misuse Tax) Bill 2024, the bill amends the:

  Income Tax Assessment Act 1936

  ,

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to provide incentives for investors to support the construction of new build to rent developments by increasing the capital works deduction rate to 4 per cent per year and reducing the final withholding tax rate on eligible fund payments from eligible managed investment trust investments to 15 per cent;

  National Consumer Credit Protection Act 2009

  to extend the application of the Credit Code to buy now, pay later contracts and establish low cost credit contracts as a new category of regulated credit;

  Medicare Levy Act 1986

  to exempt eligible lump sum payments in arrears from the Medicare Levy;

  Taxation Administration Act 1953

  to impose a new reporting obligation on certain large multinational enterprises;

  Income Tax Assessment Act 1997

  to update the list of deductible gift recipients;

  Federal Financial Relations Act 2009

  to update funding arrangements to support payments from the Commonwealth to the States in relation to skills and workforce development; and

  Income Tax (Transitional Provisions) Act 1997

  to extend the $20,000 instant asset write-off by 12 months until 30 June 2025. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Reserve Bank Reforms) Bill 2023

  Track (What's this?)

  Date

  29 Nov 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Partially implements the Government’s response to the review of the Reserve Bank of Australia (RBA) by amending the

  Reserve Bank Act 1959

  to: remove the Government’s power to override monetary policy decisions of the RBA and remove the RBA’s power to determine the lending policy of banks; clarify the objectives and functions of the RBA; replace the existing Reserve Bank Board with a Monetary Policy Board and Governance Board; and make consequential and minor amendments. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019

  Track (What's this?)

  Date

  05 Dec 2019 

  Chamber

  House of Representatives 

  Status

  Not Proceeding 

  Portfolio

  Treasury 

  Summary

  Amends the:

  Income Tax Assessment Act 1997

  and

  Tax Laws Amendment (Research and Development) Act 2015

  to: permanently increase the research and development (R&D) expenditure threshold from $100 million to $150 million; link the R&D tax offset for refundable R&D tax offset claimants to their corporate tax rates plus a 13.5 percentage point premium; cap the refundability of the R&D tax offset at $4 million per annum; and increase the targeting of the R&D tax incentive to larger R&D entities with high levels of R&D intensity;

  Income Tax Assessment Act 1997

  to extend the concept of tax benefits in the general anti-avoidance rule in Part IVA of the

  Income Tax Assessment Act 1936

  to include the R&D tax offset;

  Income Tax Assessment Act 1997

  ,

  Income Tax Rates Act 1986

  and

  Income Tax (Transitional Provisions) Act 1997

  to: remake and consolidate provisions relating to clawback of R&D recoupments and feedstock adjustments; introduce a new uniform clawback rule that applies for recoupments, feedstock adjustments and balancing adjustment amounts included in an R&D entity's assessable income; and introduce a new catch-up rule for R&D assets;

  Taxation Administration Act 1953

  to require the Commissioner of Taxation to publish information about relevant activities of R&D entities claiming the R&D tax offset following a two-year delay;

  Industry Research and Development Act 1986

  (IR&D Act) to: provide for the Board of Innovation and Science Australia (ISA) to make a determination, by notifiable instrument, about how it will exercise its powers and perform its functions and duties; and expand the existing power of the Board of ISA and its committees to delegate some or all of their functions to include certain members of the Australian Public Service; and Industry Research and Development Decision-making Principles 2011 to provide that extensions of time granted under the IR&D Act may relate to certain applications. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019

  Track (What's this?)

  Date

  04 Dec 2019 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Introduced with the Commonwealth Registers Bill 2019, Business Names Registration (Fees) Amendment (Registries Modernisation) Bill 2019, Corporations (Fees) Amendment (Registries Modernisation) Bill 2019 and National Consumer Credit Protection (Fees) Amendment (Registries Modernisation) Bill 2019 to create a new Commonwealth business registry regime, the bill: amends 12 Acts to bring 35 existing business registers into the new regime; and

  Corporations (Aboriginal and Torres Strait Islander) Act 2006

  ,

  Corporations Act 2001

  ,

  Income Tax Assessment Act 1936

  and

  Taxation Administration Act 1953

  to introduce a director identification number requirement. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019

  Track (What's this?)

  Date

  13 Feb 2019 

  Chamber

  House of Representatives 

  Status

  Not Proceeding 

  Portfolio

  Treasury 

  Summary

  Introduced with the Commonwealth Registers Bill 2019, Business Names Registration (Fees) Amendment (Registries Modernisation) Bill 2019, Corporations (Fees) Amendment (Registries Modernisation) Bill 2019 and National Consumer Credit Protection (Fees) Amendment (Registries Modernisation) Bill 2019 to create a new Commonwealth business registry regime, the bill: amends 12 Acts to bring 35 existing business registers into the new regime; and

  Corporations (Aboriginal and Torres Strait Islander) Act 2006

  ,

  Corporations Act 2001

  ,

  Income Tax Assessment Act 1936

  and

  Taxation Administration Act 1953

  to introduce a director identification number requirement. 

  Bill | Explanatory Memorandum

• Treasury Laws Amendment (Refining and Improving Our Tax System) Bill 2023

  Track (What's this?)

  Date

  22 Mar 2023 

  Chamber

  House of Representatives 

  Status

  Act 

  Portfolio

  Treasury 

  Summary

  Amends the:

  International Tax Agreements Act 1953

  to: give legislative authority to the Convention between Australia and Iceland for the elimination of double taxation with respect to taxes on income and the prevention of tax evasion and avoidance; and make minor amendments to update various notes;

  Income Tax Assessment Act 1997

  to: exempt certain subsidiaries of the Future Fund Board from income tax and include them as entities eligible for a refund of a tax offset relating to a franked distribution; and transfer administration of three register deductible gift recipient categories and the Overseas Aid Gift Deduction Scheme to the Commissioner of Taxation;

  Customs Act 1901

  and

  Excise Act 1901

  to enable an eligible business entity liable for excise duty for excisable goods or customs duty for excise-equivalent goods, being fuel and alcohol, to align their excise returns and customs returns with the return period for other indirect taxes which are separately lodged through a business activity statement;

  Excise Act 1901

  to provide that the repackaging of beer that would otherwise be excise manufacture is not taken to be the manufacture of beer if it meets certain requirements; and

  Income Tax Assessment Act 1997

  and

  Taxation Administration Act 1953

  to make consequential amendments. 

  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