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Treasury Laws Amendment (2021 Measures No. 2) Bill 2021


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

Summary

Amends the: Income Tax Assessment Act 1997 to require a fund, authority or institution to be a registered charity or an Australian government agency, or be operated by a registered charity or an Australian government agency, to be entitled to a deductible gift recipient endorsement; Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997 to remove the concessional tax treatment for offshore banking units (OBU); and Income Tax Assessment Act 1936 to: remove the ability of the minister to issue determinations or declarations that a person or entity is an OBU; and remove the withholding tax exemption for OBUs for interest (including interesting consisting of gold) paid on or after 1 January 2024.

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 17/03/21  
Second reading moved 17/03/21  
     

Text of bill

  • First reading

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

Bills Digest



Notes
  • Considered by scrutiny committee (21/04/2021): Senate Standing Committee for the Scrutiny of Bills; Scrutiny Digest 6 of 2021