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Treasury Laws Amendment (COVID-19 Economic Response No. 2) Bill 2021

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1352

2019-2021

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

 

 

Treasury Laws Amendment (COVID-19 Economic Response No. 2) Bill 2021

 

(1)     Page 9 (after line 17), at the end of the Bill, add:

Schedule 6 Publication of information about COVID-19 payment recipients

 

Coronavirus Economic Response Package (Payments and Benefits) Act 2020

1  Section 6

Insert:

annual turnover of an entity for a financial year is the total of the following that is earned in the year in the course of the entity’s business:

                     (a)  the proceeds of sales of goods and/or services;

                     (b)  commission income;

                     (c)  repair and service income;

                     (d)  rent, leasing and hiring income;

                     (e)  government bounties and subsidies;

                      (f)  interest, royalties and dividends;

                     (g)  other operating income.

If the entity is a non-profit body (within the meaning of section 23-15 of the A New Tax System (Goods and Services Tax) Act 1999 ), treat the operations or activities carried out by the body as the business of the body.

jobkeeper payment means a payment under the jobkeeper scheme.

jobkeeper scheme means the scheme for the Coronavirus economic response payment known as the jobkeeper payment provided for in rules made for the purposes of subsection 7(1) in relation to the period 1 March 2020 to 28 March 2021.

[publication of COVID-19 payment information]

2  After section 19

Insert:

19A   Commissioner must publish information about entities that received jobkeeper payments

             (1)  The Commissioner must publish the following information about each entity covered by subsection (2) that has received a jobkeeper payment:

                     (a)  the name of the entity;

                     (b)  the number of individuals for whom the entity received a jobkeeper payment;

                     (c)  the total amount of jobkeeper payments received by the entity;

                     (d)  whether the entity has voluntarily paid to the Commonwealth an amount equal to all or part of the amount referred to in paragraph (c), and if so, the amount of the payment.

             (2)  An entity is covered by this subsection if the annual turnover of the entity for a financial year in which the entity received a jobkeeper payment is more than $10 million.

             (3)  The information must be published as soon as practicable after the commencement of this section on a publicly available website maintained by the Commissioner.

19B   Commissioner must publish information about entities that received certain Coronavirus economic response payments

             (1)  The Commissioner must publish the following information about each entity covered by subsection (2) that has received a Coronavirus economic response payment provided for in rules made for the purposes of subsection 7(1B):

                     (a)  the name of the entity;

                     (b)  the total amount of such payments received by the entity;

                     (c)  whether the entity has voluntarily paid to the Commonwealth an amount equal to all or part of the amount referred to in paragraph (b), and if so, the amount of the payment.

             (2)  An entity is covered by this subsection if the annual turnover of the entity for a financial year in which the entity received such a payment is more than $10 million.

             (3)  The information must be published as soon as practicable after the commencement of this section on a publicly available website maintained by the Commissioner.

             (4)  Information published under this section must be kept up to date.

[publication of COVID-19 payment information]