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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.

Treasury Laws Amendment (2022 Measures No. 4) Bill 2022

Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the: Income Tax Assessment Act 1997 to: provide for a 30% refundable tax offset in relation to the development of digital games in Australia; and update the list of deductible gift recipients; A New Tax System (Goods and Services Tax) Act 1999, A New Tax System (Goods and Services Tax) Regulations 2019 and Income Tax Assessment Act 1997 to clarify that certain digital currencies continue to be excluded from the income tax treatment of foreign currency; Fringe Benefits Tax Assessment Act 1986 to enable the commissioner to determine alternative records which may be kept and retained by employers for fringe benefit tax record keeping purposes; Income Tax (Transitional Provisions) Act 1997 to provide for temporary measures allowing certain small businesses to access 20% bonus deductions for eligible expenditure incurred on external training for employees, and expenses and depreciating assets for the purpose of digitising operations; Corporations Act 2001, Australian Securities and Investments Commission Act 2001 and Superannuation Industry (Supervision) Act 1993 to extend existing reporting and auditing requirements to registerable superannuation entities; Clean Energy Finance Corporation Act 2012 to: amend the definition of 'responsible ministers' and specify that the minister administering the Act is also the nominated minister unless determined otherwise in writing; credit the Clean Energy Finance Corporation (CEFC) Special Account with $11.5 billion after commencement of the amendments; and enable additional amounts to be credited to the CEFC Special Account through additional appropriations of the Parliament; and Income Tax Assessment (1997 Act) Regulations 2021, Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 to: amend the definition of 'superannuation income stream'; provide a non-refundable tax offset for certain members of the Military Superannuation Benefits Scheme and Defence Force Retirement and Death Benefits Scheme; and specify eligibility criteria and a framework for a veterans’ superannuation (invalidity pension) tax offset.

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 23/11/22  
Second reading moved 23/11/22  
Second reading debate 30/11/22  
Second reading agreed to 30/11/22  
Consideration in detail debate 30/11/22  
Third reading agreed to 30/11/22  
     
Senate
Introduced and read a first time 01/12/22  
Second reading moved 01/12/22  
Second reading debate 20/06/23  
Second reading agreed to 20/06/23  
Committee of the Whole debate 20/06/23 Amendment details: 2 Government agreed to
Committee of the Whole debate 21/06/23  
Third reading agreed to 21/06/23  
     
House of Representatives
Consideration of Senate message 21/06/23 Details: House agreed to Senate amendments
     
Finally passed both Houses 21/06/23  
Assent 23/06/23 Act no: 29 - Year: 2023
     

[Information on document types]

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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  • Supplementary explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

House of Representatives
  • Crossbench
WILKIE, Andrew, MP

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Senate
  • CW - Australian Greens [sheet 1831]
RICE, Sen Janet

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  • CW - Government [sheet PZ104]

 MS-Word PDF HTML
  • CW - Independent [sheet 1926]
POCOCK, Sen David

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  • CW - Opposition [sheet 1859]
BRAGG, Sen Andrew

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  • CW - Opposition [sheet 1858]
BRAGG, Sen Andrew

 MS-Word PDF HTML
  • CW - Opposition [sheet 1852]
HUME, Sen Jane

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Schedules of amendments

  • Schedule of the amendments made by the Senate

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Bills Digest



Notes