Bill
Tax and Superannuation Laws Amendment (2016 Measures No. 2) Bill 2016
passed, as at 2017-02-28. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2016-09-14
- second reading — 2016-09-14
- second reading — 2017-02-07
- second reading — 2017-02-07
- third reading — 2017-02-07
- introduced — 2017-02-08
- second reading — 2017-02-08
- second reading — 2017-02-09
- second reading — 2017-02-09
- third reading — 2017-02-09
- passed — 2017-02-09
- royal assent — 2017-02-28
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2016-09-14.
This bill is part of a package that would give the Commissioner of Taxation a Remedial Power to fix unforeseen or unintended outcomes in tax and superannuation laws more quickly.
The Commissioner could modify a taxation law by making a disallowable legislative instrument, but only if the modification aligns with the law's purpose, is reasonable, and has negligible budget impact according to Treasury or Finance.
Before using the power, the Commissioner must consult appropriately and practicably, consistent with how primary legislation amendments are handled.
- Establishes a Remedial Power for the Commissioner of Taxation.
- Allows the Commissioner to modify taxation laws by disallowable legislative instrument.
- Requires consultation before exercising the power.
Entities, individuals, businesses, and community organisations affected by taxation and superannuation laws.
Sources
em
billhome
frl act