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Bills of the current Parliament

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Treasury Laws Amendment (2021 Measures No. 5) Bill 2021


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

Summary

Amends: the Income Tax Assessment Act 1997 to: increase the producer offset for films that are not feature films released in cinemas to 30 per cent of total qualifying Australian production expenditure; increase the minimum qualifying Australian production expenditure threshold for claiming the producer offset and the post, digital and visual effects offset to $1 million; remove the 65 commercial hour cap on claiming qualifying Australian production expenditure for a drama series and seasons of a drama series; and create limitations on what a company can count as a films qualifying Australian production expenditure; 15 Acts to make amendments consequential on new debt restructuring and liquidation processes for eligible incorporated small businesses; and 16 Acts in the Treasury portfolio to make miscellaneous and technical 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 24/06/21  
Second reading moved 24/06/21  
     

Text of bill

  • First reading

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

Senate
  • Independent [sheet 1346]
PATRICK, Sen Rex

MS-Word PDF HTML

Schedules of amendments

Bills Digest



Notes