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Text of bill | Explanatory memoranda | Second reading speeches | Proposed amendments | Schedules of amendments | Bills Digest

Bills of previous Parliaments

Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.

Treasury Laws Amendment (Combating Multinational Tax Avoidance) Bill 2017

Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Introduced with the Diverted Profits Tax Bill 2017, the bill amends: five Acts to provide for a diverted profits tax from 1 July 2017 to ensure that significant global entities are not able to avoid their tax obligations by diverting profits generated in Australia offshore; the Taxation Administration Act 1953 to increase the administrative penalties that can be imposed by the Commissioner of Taxation on significant global entities for breaching their tax reporting obligations; and the Income Tax Assessment Act 1997 to update the reference to Organisation for Economic Cooperation and Development (OECD) transfer pricing guidelines in Australia’s cross-border transfer pricing rules to include the 2016 OECD amendments to the guidelines.

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 09/02/17  
Second reading moved 09/02/17  
Second reading debate 21/03/17  
Second reading agreed to 21/03/17  
Consideration in detail debate 21/03/17 Amendment details: 1 Government agreed to
Third reading agreed to 21/03/17  
     
Senate
Introduced and read a first time 23/03/17  
Second reading moved 23/03/17  
Second reading debate 27/03/17  
Second reading agreed to 27/03/17  
Committee of the Whole debate 27/03/17  
Third reading agreed to 27/03/17  
     
Finally passed both Houses 27/03/17  
Assent 04/04/17 Act no: 27 - Year: 2017
     

[Information on document types]

Text of bill

  • First reading

MS-Word PDF HTML
  • Third reading

MS-Word PDF HTML
  • As passed by both Houses

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML
  • Supplementary explanatory memorandum

MS-Word PDF HTML
  • Revised explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

House of Representatives
  • Government [HG178]

 MS-Word PDF HTML
Senate
  • Australian Greens [sheet 8098]
WHISH-WILSON, Sen Peter

 MS-Word PDF HTML

Schedules of amendments

Bills Digest



Notes
  • Referred to Committee (16/02/2017): Senate Economics Legislation Committee; Committee report (20/03/2017)
  • An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)