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Text of bill | Explanatory memoranda | Second reading speeches | Proposed amendments | Schedules of amendments | Bills Digest

Bills of the current Parliament

Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.

Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the: Income Tax Assessment Act 1997 to: provide for a standard and centralised set of concepts to determine whether an entity is a ‘significant global entity’; and introduce new standards for transfer pricing documentation and country-by-country reporting by significant global entities; Income Tax Assessment Act 1936 to negate certain tax avoidance schemes used by multinational entities to artificially avoid the attribution of profits to a permanent establishment in Australia; and Taxation Administration Act 1953 to: increase the penalties imposed on significant global entities that enter into tax avoidance or profit shifting schemes; and make consequential amendments.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 16/09/15  
Second reading moved 16/09/15  
Second reading debate 19/10/15  
Second reading agreed to 19/10/15  
Third reading agreed to 19/10/15  
     
Senate
Introduced and read a first time 09/11/15  
Second reading moved 09/11/15  
Second reading debate 09/11/15  
Second reading debate 10/11/15  
Second reading agreed to 10/11/15  
Committee of the Whole debate 10/11/15 Amendment details: 1 Independent (Xenophon) agreed to
Committee of the Whole debate 11/11/15 Amendment details: 2 Australian Greens agreed to
Third reading agreed to 11/11/15  
     
House of Representatives
Consideration of Senate message 12/11/15 Details: House disagreed to Senate amendments
     
Senate
Message from House of Reps reported 12/11/15  
Consideration of House of Reps message 03/12/15 Details: Senate did not insist on its amendments, and agreed to 4 Australian Greens amendments in place of amendments nos 2 and 3
     
House of Representatives
Consideration of Senate message 03/12/15 Details: House agreed to Senate amendments
     
Finally passed both Houses 03/12/15  
Assent 11/12/15 Act no: 170 - Year: 2015
     

Text of bill

  • First reading

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  • As passed by both Houses

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Explanatory memoranda

  • Explanatory memorandum

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Second reading speeches


Proposed amendments

Senate
  • Australian Greens [sheet 7836]
DI NATALE, Sen Richard

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  • Australian Greens [sheet 7796]
WHISH-WILSON, Sen Peter

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  • Australian Greens [sheet 7787]
DI NATALE, Sen Richard

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  • Australian Motoring Enthusiast Party [sheet 7832]
MUIR, Sen Ricky

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  • Australian Motoring Enthusiast Party [sheet 7833]
MUIR, Sen Ricky

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  • Independent [sheet 7813]
LAMBIE, Sen Jacqui

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  • Independent [sheet 7789]
XENOPHON, Sen Nick

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  • Opposition [sheet 7831]
DASTYARI, Sen Sam

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  • Opposition [sheet 7795]
DASTYARI, Sen Sam

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  • Opposition [sheet 7794]
DASTYARI, Sen Sam

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Schedules of amendments

  • Schedule of the amendments made by the Senate

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  • Schedule of the amendments made by the Senate to which the House of Representatives has disagreed

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  • Schedule of the amendments made by the Senate in place of amendments nos 2 and 3 to which the House of Representatives has disagreed

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Bills Digest



Notes
  • Referred to Committee (17/09/2015): Senate Economics Legislation Committee; Committee report (09/11/2015)
  • Access information for House of Representatives and Senate committees
  • An electronic version of this Act is available in ComLaw ( www.comlaw.gov.au )