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Bills of the current Parliament

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Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019


Type
Government
Originating house
House of Representatives
Status
Before Senate
Portfolio
Treasury

Summary

Amends the: Income Tax Assessment Act 1936 to: remove a tax deduction which arises upon repayment of principal under a concessional loan by certain privatised entities; Income Tax Assessment Act 1997 to: introduce a new additional basic condition in relation to partnerships for the small business capital gains tax concessions; and limit tax deductions for losses or outgoings incurred that relate to holding vacant land; Income Tax Assessment Act 1936 and Taxation Administration Act 1953 to extend to family trusts the anti-avoidance rules that apply to other closely held trusts that undertake circular trust distributions; Taxation Administration Act 1953 to: allow taxation officers to disclose the business tax debt information of a taxpayer to credit reporting bureaus certain circumstances; and enable the Australian Taxation Office to develop and/or administer a framework or system for electronic invoicing; and Superannuation Guarantee (Administration) Act 1992 to ensure that an individual’s salary sacrifice contributions cannot be used to reduce an employer’s minimum superannuation guarantee contributions.

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 24/07/19  
Second reading moved 24/07/19  
Second reading debate 31/07/19  
Second reading agreed to 01/08/19  
Third reading agreed to 01/08/19  
     
Senate
Introduced and read a first time 01/08/19  
Second reading moved 01/08/19  
     

Text of bill

  • First reading

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

Senate
  • Centre Alliance [sheet 8742]
PATRICK, Sen Rex

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Schedules of amendments

Bills Digest



Notes