Bills of the current Parliament

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 (2021 Measures No. 3) Bill 2021


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the: A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999 and Medicare Levy Act 1986 to: increase the Medicare levy and Medicare levy surcharge low-income threshold amounts for individuals, families and individual taxpayers and families eligible for the seniors and pensioners tax offset; and increase the phase-in limits as a result of the increased threshold amounts; National Housing Finance and Investment Corporation Act 2018 to expand the objects of the Act to include the National Housing Finance and Investment Corporation improving housing outcomes for Australians by assisting earlier access to the housing market by single parents with dependants; Income Tax Assessment Act 1997, Social Security Act 1991 and Veterans' Entitlements Act 1986 to provide that annual and lump sum payments made by the Commonwealth to thalidomide survivors are exempt from income tax and do not count as income for the purposes of any income support payments; and Income Tax Assessment Act 1997 to: make disaster recovery grant payments in relation to the storms and floods that occurred in February and March 2021 non-assessable non-exempt income; update the list of deductible gift recipients to include six new entities; and extend the period in which two entities are deductible gift recipients.

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 13/05/21  
Second reading moved 13/05/21  
Second reading debate 26/05/21  
Second reading debate 27/05/21  
Second reading agreed to 27/05/21  
Third reading agreed to 27/05/21  
     
Senate
Introduced and read a first time 15/06/21  
Second reading moved 15/06/21  
Second reading debate 22/06/21  
Second reading agreed to 22/06/21  
Committee of the Whole debate 22/06/21  
Third reading agreed to 22/06/21  
     
Finally passed both Houses 22/06/21  
Assent 29/06/21 Act no: 61 - Year: 2021
     

Text of bill

  • First reading

MS-Word PDF HTML
  • As passed by both Houses

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

Senate
  • Australian Greens [sheet 1302]
MCKIM, Sen Nick

MS-Word PDF HTML

Schedules of amendments

Bills Digest



Notes