Bill
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
passed, as at 2022-12-12. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2022-08-03
- second reading — 2022-08-03
- second reading — 2022-09-08
- second reading — 2022-09-26
- second reading — 2022-09-26
- third reading — 2022-09-26
- introduced — 2022-09-26
- second reading — 2022-09-26
- second reading — 2022-11-28
- second reading — 2022-11-28
- third reading — 2022-11-28
- passed — 2022-11-28
- royal assent — 2022-12-12
Divisions
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2022-08-03.
This bill gives the tax commissioner a new option for dealing with businesses that do not keep proper tax records.
Instead of imposing a fine, the commissioner could require the business to take an approved course on record-keeping, if the commissioner has a reasonable belief that the business broke its tax record-keeping duties.
The new power would start on the first of January, April, July, or October after the bill becomes law, but the commissioner could issue a direction three months after that date.
- The bill allows the commissioner to order a business to complete an approved record-keeping course.
- The bill makes this course an alternative to existing financial penalties for record-keeping failures.
- The bill sets a start date for the new power based on the next quarter after royal assent.
Businesses that have failed to comply with their tax-related record-keeping obligations.
Sources
em
billhome
frl act