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Explanatory memoranda |
Second reading speeches |
Proposed amendments |
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Bills of the current Parliament
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for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.
Treasury Laws Amendment (2021 Measures No. 4) Bill 2021
Type |
Government |
Originating house |
House of Representatives |
Status |
Act |
Portfolio |
|
Summary
Amends the: Fringe Benefits Tax Assessment Act 1986 to provide employers with an exemption from fringe benefits tax if they provide training or education to a redundant, or soon to be redundant, employee for the purpose of assisting that employee to gain new employment; Income Tax Assessment Act 1997 to: extend the operation of the junior minerals exploration incentive for a further four years; and include a reporting requirement for mineral exploration companies where no exploration investment has occurred to enable unused exploration credits to be identified earlier and reallocated; Treasury Laws Amendment (Junior Minerals Exploration Incentive) Act 2018 to make consequential amendments; Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 to provide a capital gains tax exemption for granny flat arrangements where there is a formal written agreement in place; Corporations Act 2001 and National Consumer Credit Protection Act 2009 to provide that the Australian Securities and Investment Commission is not prohibited from making a product intervention order that has conditions relating to fees, charges or other consideration payable by a retail client or consumer in relation to a financial or credit product; International Tax Agreements Act 1953 to disregard days spent in Australia due to COVID-19 by New Zealand sportspersons on teams participating in cross-border competitions and their support staff in determining whether income derived from such competitions is taxable in Australia; and Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020 to retain the low and middle income tax offset for the 2021-22 financial year.
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 |
26/05/21 |
|
Second reading moved |
26/05/21 |
|
Second reading debate |
17/06/21 |
|
Second reading agreed to |
17/06/21 |
|
Third reading agreed to |
17/06/21 |
|
|
|
|
Senate |
Introduced and read a first time |
21/06/21 |
|
Second reading moved |
21/06/21 |
|
Second reading debate |
24/06/21 |
|
Second reading agreed to |
24/06/21 |
|
Third reading agreed to |
24/06/21 |
|
|
|
|
Finally passed both Houses |
24/06/21 |
|
Assent |
30/06/21 |
Act no: 72 - Year: 2021 |
|
|
|
[Information on document types]
Text of bill
Explanatory memoranda
Second reading speeches
Proposed amendments
No proposed amendments have been circulated.
Schedules of amendments
Bills Digest