The House of Representatives Standing Committee on Tax and Revenue has today presented its report titled The Development of the Australian Corporate Bond Market: A Way Forward.

Media release issue date: Monday, 25 October 2021

The House of Representatives Standing Committee on Tax and Revenue has today presented its report titled The Development of the Australian Corporate Bond Market: A Way Forward. Corporate bonds are a type of debt security, issued by entities to finance their business operations. In its report, the Committee makes 12 recommendations to support the development of a more active corporate bond market in Australia   The Committee’s recommendations aim to remove barriers to the issuing of corporate bonds as well as raise awareness about the benefits of corporate bonds, both for investors and issuers. Specifically, the Committee’s recommendations include ensuring that investors have access to timely and useful information about corporate bonds, lowering the minimum investment parcel to $1,000 for corporate bonds to improve accessibility to more investors, reviewing the licensing regime for credit rating agencies to minimise access barriers, and streamlining disclosure requirements for the issuing of simple corporate bonds.  The Committee’s recommendations also include proposed amendments to the relevant regulations to allow for the early redemption of simple corporate bonds, as well as a review of Chapter 2L of the Corporations Act 2001 (Cth) with the aim of increasing the availability of trustees for the retail bond market. Further, the Committee recommends a review of the regulatory reforms implemented in New Zealand’s corporate bond market to further develop and make more liquid Australia’s corporate bond market. Committee Chair, Mr Jason Falinski MP, advocates for regulatory changes in this space – ‘it is the hope of this Committee that the government will commence implementing recommendations as soon as possible as each recommendation will result in unleashing the considerable power of the corporate bond market in Australia.’ A full copy of the Committee’s report can be found on the inquiry’s website. Media enquiries Mr Jason Falinski MP Chair of the House of Representatives Standing Committee on Tax and Revenue Jason.Falinski.MP@aph.gov.au (02) 6277 2324 For background information Committee Secretariat 02 6277 4821 TaxRev.Reps@aph.gov.au For more information about this Committee, you can visit its website. On the site, you can, read submissions, find details of upcoming public hearings, and subscribe to receive email updates by clicking on the blue ‘Track Committee’ button on the right side of the page.

Over the next two Fridays, the House of Representatives Standing Committee on Tax and Revenue is holding public hearings for its Inquiry into the Development of the Australian Corporate Bond Market.

Media release issue date: Thursday, 5 November 2020

Over the next two Fridays, the House of Representatives Standing Committee on Tax and Revenue is holding public hearings for its Inquiry into the Development of the Australian Corporate Bond Market. The Chair of the Committee, Mr Jason Falinski MP, said that the Committee looks forward to hearing from key peak bodies and market participants about potential barriers in the regulatory regime for corporate bonds. “The Australian corporate bond market, despite regulatory changes over the last decade, remains small compared to other countries”, Mr Falinski noted, “This inquiry will be looking at why that might be”. “Examining the tax treatment of corporate bonds for issuers and investors will provide a clearer view of any impediments to the issuance of bonds compared to other asset classes,” said Mr Falinski. The Committee will also look at how certain policy settings have helped to build more active retail corporate bond markets in other jurisdictions, especially those that attract substantial issuance from Australian corporations. Further information about the inquiry is available on the Committee’s website. Upcoming public hearings Date: Friday, 6 November 2020 Time: 9.00am to 12.15pm Location: Committee Room 2R1, Parliament House, Canberra (via video/teleconference) Date: Friday, 13 November 2020 Time: 9.00am to 11.45am Location: Committee Room 1R3, Parliament House, Canberra (via video/teleconference) The hearings will be broadcast live at aph.gov.au/live. Media inquiries Mr Jason Falinski MP Chair of the House of Representatives Standing Committee on Tax and Revenue Jason.Falinski.MP@aph.gov.au (02) 6277 2324 For background information Committee Secretariat  02 6277 4821 TaxRev.Reps@aph.gov.au For more information about this Committee, you can visit its website www.aph.gov.au/taxrev. On the site, you can make a submission to an inquiry, read other submissions, and get details for upcoming public hearings. You can also track the Committee and receive email updates by clicking on the blue ‘Track Committee’ button in the bottom right hand corner of the page.

The House of Representatives Committee on Tax and Revenue has commenced an inquiry into the development of the Australian retail corporate bond market.

Media release issue date: Monday, 10 February 2020

The House of Representatives Committee on Tax and Revenue has commenced an inquiry into the development of the Australian retail corporate bond market. Mr Jason Falinski, Chair of the Committee, stated, ‘A number of reviews have observed that the Australian retail corporate bond market is small compared to those of similar countries. The Committee is interested in why Australian businesses make greater use of offshore bond markets rather than issuing bonds.’ The Committee will consider the tax treatment of corporate bonds as well as the Corporations Act 2001 to determine whether there are any impediments to the development of the retail corporate bond market. Submissions from interested individuals and organisations are invited by Thursday, 19 March 2020. The preferred method of receiving submissions is by electronic format lodged online using a My Parliament account. Further information about the inquiry including the terms of reference is available on the Committee’s website. Public hearing details Public hearings for the inquiry will be held in due course and notified through the Committee’s website. Media inquiries Mr Jason Falinski MP Chair of the House of Representatives Standing Committee on Tax and Revenue Jason.Falinski.MP@aph.gov.au (02) 6277 2324 For background information Committee Secretariat 02 6277 4821 TaxRev.Reps@aph.gov.au