Pursuant to the motion agreed to by the Senate on 16 May 2024 (see Item 15, Senate Journals, 16 May 2024) provisions of the Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024 and the Capital Works (Build to Rent Misuse Tax) Bill 2024 were referred to the Economics Legislation Committee for inquiry and report by 24 June 2024. The committee agreed to inquire into the bills in a single inquiry.

The committee has agreed to accept submissions until 28 June 2024.

On 24 June 2024, the Senate agreed to extend the reporting date to 2 August 2024. 

Division of the bill into two bills

On 27 June 2024, the Senate agreed that following the introduction and first reading of the bill in the Senate, the bill would be divided into two bills, as follows:

• Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024—containing Schedules 2 to 7, for inquiry and report by 2 August 2024;

• Treasury Laws Amendment (Build to Rent) Bill 2024—containing Schedule 1, for inquiry and report by 4 September 2024, along with the Capital Works (Build to Rent Misuse Tax) Bill 2024.

As such, Schedule 1 to the original bill and the Capital Works (Build to Rent Misuse Tax) Bill 2024 will now be considered as part of a single, separate inquiry (the ‘Build to Rent’ inquiry), with a reporting date of 4 September 2024. Submissions will be due on 25 July 2024.

This inquiry will continue with its consideration of original bill, as amended (Schedules 2 to 7). Submitters to this inquiry who had commented on Schedule 1 of the original bill will be invited to make a submission to the new Build to Rent inquiry. Please note that these changes will take effect, and the new inquiry webpage will be created, following the introduction and first reading of the original bill in the Senate.