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

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8742

2019

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

 

 

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

 

 

(1)     Schedule 5, item 2, page 15 (line 15), after “the entity”, insert “(the taxation entity )”.

[disclosure of business tax debts]

(2)     Schedule 5, item 2, page 15 (line 25), after paragraph 355-72(1)(d) in Schedule 1, insert:

                   (da)  in the case of a condition of the primary entity’s inclusion in the declared class of entities relating to the Inspector-General of Taxation—immediately before disclosure of the information occurs to the credit reporting bureau:

                              (i)  the taxation entity has consulted with the Inspector-General of Taxation; and

                             (ii)  the Inspector-General of Taxation has confirmed the condition applies in relation to the primary entity; and

[disclosure of business tax debts]

(3)     Schedule 5, item 2, page 16 (line 1), omit “21 days”, substitute “42 days .

[disclosure of business tax debts]

(4)     Schedule 5, item 2, page 16 (line 2), omit “given to”, substitute “served on”.

[disclosure of business tax debts]

(5)     Schedule 5, item 2, page 16 (after line 16), after paragraph 355-72(3)(b) in Schedule 1, insert:

                   (ba)  explain:

                              (i)  why the primary entity is included in a class of entities declared under subsection (5); and

                             (ii)  the steps (if any) the primary entity may take to no longer be included in that class before the disclosure occurs; and

[disclosure of business tax debts]

(6)     Schedule 5, item 2, page 16 (line 23), after subsection 355-72(3) in Schedule 1, insert:

          (3A)  If the primary entity has a * registered tax agent or BAS agent, the Commissioner must serve a copy of the notice on the agent.

[disclosure of business tax debts]

(7)     Schedule 5, item 2, page 17 (after line 16), after subsection 355-72(5) in Schedule 1, insert:

          (5A)  Before making an instrument under subsection (5), the Minister must:

                     (a)  consult the Inspector-General of Taxation; and

                     (b)  consider any submissions made by the Inspector-General of Taxation because of that consultation.

[disclosure of business tax debts]