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This is a Bill, not an Act. For current law, see the Acts databases.
2022
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Treasury Laws Amendment (2022
Measures No. 2) Bill 2022
No. , 2022
(Treasury)
A Bill for an Act to amend the law relating to
taxation, and for related purposes
No. , 2022
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
Schedule 1--Assisting businesses to meet their record-keeping
obligations
3
Part 1--Main amendments
3
Taxation Administration Act 1953
3
Part 2--Other amendments
7
Income Tax Assessment Act 1997
7
Taxation Administration Act 1953
7
Part 3--Application and transitional provisions
8
Schedule 2--Sharing economy reporting regime
9
Taxation Administration Act 1953
9
Schedule 3--Removing the self-education expenses threshold
11
Fringe Benefits Tax Assessment Act 1986
11
Income Tax Assessment Act 1936
13
Income Tax Assessment Act 1997
14
Schedule 4--Increased Tribunal powers for small business tax
decisions
15
Taxation Administration Act 1953
15
Schedule 5--Expanding eligibility for downsizer contributions
18
Income Tax Assessment Act 1997
18
No. , 2022
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
1
A Bill for an Act to amend the law relating to
1
taxation, and for related purposes
2
The Parliament of Australia enacts:
3
1 Short title
4
This Act is the
Treasury Laws Amendment (2022 Measures No. 2)
5
Act 2022
.
6
2 Commencement
7
(1) Each provision of this Act specified in column 1 of the table
8
commences, or is taken to have commenced, in accordance with
9
column 2 of the table. Any other statement in column 2 has effect
10
according to its terms.
11
12
2
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
No. , 2022
Commencement information
Column 1
Column 2
Column 3
Provisions
Commencement
Date/Details
1. Sections 1 to 3
and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Schedules 1, 2
and 3
The first 1 January, 1 April, 1 July or
1 October to occur after the day this Act
receives the Royal Assent.
3. Schedule 4
The day after this Act receives the Royal
Assent.
4. Schedule 5
The first 1 January, 1 April, 1 July or
1 October to occur after the day this Act
receives the Royal Assent.
Note:
This table relates only to the provisions of this Act as originally
1
enacted. It will not be amended to deal with any later amendments of
2
this Act.
3
(2) Any information in column 3 of the table is not part of this Act.
4
Information may be inserted in this column, or information in it
5
may be edited, in any published version of this Act.
6
3 Schedules
7
Legislation that is specified in a Schedule to this Act is amended or
8
repealed as set out in the applicable items in the Schedule
9
concerned, and any other item in a Schedule to this Act has effect
10
according to its terms.
11
Assisting businesses to meet their record-keeping obligations
Schedule 1
Main amendments
Part 1
No. , 2022
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
3
Schedule 1--Assisting businesses to meet
1
their record-keeping obligations
2
Part 1--Main amendments
3
Taxation Administration Act 1953
4
1 Paragraph 288-25(2)(b) in Schedule 1
5
Omit "expenses).", substitute "expenses); or".
6
2 After paragraph 288-25(2)(b) in Schedule 1
7
Insert:
8
(c) if you are given a
*
tax-records education direction--
9
documents to which a record-keeping failure specified in the
10
direction relates, unless you have not complied with the
11
direction.
12
Note 1:
For paragraph (c):
13
(a) for tax-records education directions, see section 384-12; and
14
(b) for whether you have complied with the direction, see
15
subsection 384-15(3).
16
3 Section 288-25 (note) in Schedule 1
17
Omit "Note", substitute "Note 2".
18
4 Section 384-10 in Schedule 1 (heading)
19
Repeal the heading, substitute:
20
384-10 When a superannuation guarantee education direction may
21
be given
22
5 Subsection 384-10(1) in Schedule 1
23
Omit "This section applies to you, and the Commissioner may give you
24
an education direction under section 384-15,", substitute "The
25
Commissioner may give you a written direction (a
superannuation
26
guarantee
education direction
)".
27
Schedule 1
Assisting businesses to meet their record-keeping obligations
Part 1
Main amendments
4
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
No. , 2022
6 Subsection 384-10(1) in Schedule 1 (table items 2, 3 and 4)
1
Repeal the items, substitute:
2
2
You fail to comply with an obligation to give a statement or information to
the Commissioner under the
Superannuation Guarantee (Administration)
Act 1992
.
3
You fail to comply with an obligation to keep records under the
Superannuation Guarantee (Administration) Act 1992
.
4
You fail to comply with an obligation under this Act that relates to the
Superannuation Guarantee (Administration) Act 1992
.
7 At the end of subsection 384-10(1) in Schedule 1
3
Add:
4
Note:
For the requirements in the direction, see subsection 384-15(1).
5
8 Subsection 384-10(3) in Schedule 1
6
Repeal the subsection.
7
9 After section 384-10 in Schedule 1
8
Insert:
9
384-12 When a tax-records education direction may be given
10
(1) The Commissioner may give you a written direction (a
tax-records
11
education direction
) if the Commissioner reasonably believes you
12
have failed, at a specified time or for a specified period, to comply
13
with one or more specified record-keeping obligations under a
14
taxation law that:
15
(a) is not set out in paragraph 288-25(2)(a) or (b); and
16
(b) is not the
Superannuation Guarantee (Administration) Act
17
1992
.
18
Note:
For the requirements in the direction, see subsection 384-15(2).
19
(2) However, the Commissioner must not give you a
*
tax-records
20
education direction if the Commissioner reasonably believes:
21
(a) you are disengaged from the tax system; or
22
(b) you are deliberately avoiding any of those obligations to keep
23
records.
24
Assisting businesses to meet their record-keeping obligations
Schedule 1
Main amendments
Part 1
No. , 2022
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
5
10 Section 384-15 in Schedule 1
1
Repeal the section, substitute:
2
384-15 Content of, and matters relating to compliance with,
3
education directions
4
(1) A
*
superannuation guarantee education direction, or a
*
tax-records
5
education direction, given to you requires you to:
6
(a) ensure that any of the following individuals undertakes a
7
specified approved course of education (see section 384-20):
8
(i) if you are an individual--you;
9
(ii) an individual who makes, or participates in making,
10
decisions that affect the whole, or a substantial part, of
11
your business; and
12
(b) provide the Commissioner with evidence that the individual
13
has completed the course.
14
(2) The direction must specify the period within which you must
15
comply with the direction (which must be a period that is
16
reasonable in the circumstances).
17
Note:
The period may be affected by the operation of subsection 384-35(7).
18
(3) You are taken to comply with the direction if, and only if:
19
(a) an individual referred to in paragraph (1)(a) undertakes the
20
specified approved course of education during the specified
21
period; and
22
(b) before the end of the specified period, you provide the
23
Commissioner with evidence that the individual has
24
completed the course.
25
Note 1:
For a failure to comply with a superannuation guarantee education
26
direction, see section 384-17.
27
Note 2:
A failure to comply with a tax-records education direction will give
28
rise to the administrative penalty set out in subsection 288-25(1).
29
Schedule 1
Assisting businesses to meet their record-keeping obligations
Part 1
Main amendments
6
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
No. , 2022
384-17 Compliance with superannuation guarantee education
1
directions
2
(1) If you are given a
*
superannuation guarantee education direction,
3
you must comply with it within the period specified in the
4
direction.
5
Note:
Failure to comply with this subsection is an offence against
6
section 8C.
7
(2) You are liable to an administrative penalty of 5 penalty units if you
8
contravene subsection (1).
9
Note:
Division 298 contains machinery provisions for administrative
10
penalties.
11
11 Subsection 384-20(1) in Schedule 1
12
Omit "education directions", substitute "
*
education directions".
13
12 Section 384-30 in Schedule 1
14
Omit "education direction" (first occurring), substitute "
*
education
15
direction".
16
13 Subsection 384-35(1) in Schedule 1
17
Omit "education direction", substitute "
*
education direction".
18
14 Subsection 384-35(7) in Schedule 1
19
Omit "subsection 384-15(3)", substitute "when you must comply with
20
the direction".
21
15 Paragraph 384-40(a) in Schedule 1
22
Omit "education direction", substitute "
*
education direction".
23
Assisting businesses to meet their record-keeping obligations
Schedule 1
Other amendments
Part 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
7
Part 2--Other amendments
1
Income Tax Assessment Act 1997
2
16 Subsection 995-1(1)
3
Insert:
4
education direction
means:
5
(a) a
*
superannuation guarantee education direction; or
6
(b) a
*
tax-records education direction.
7
superannuation guarantee education direction
means a direction
8
given under subsection 384-10(1) in Schedule 1 to the
Taxation
9
Administration Act 1953
.
10
tax-records education direction
means a direction given under
11
subsection 384-12(1) in Schedule 1 to the
Taxation Administration
12
Act 1953
.
13
Taxation Administration Act 1953
14
17 Paragraph 8C(1)(fa)
15
Omit "an education direction in accordance with subsection 384-15(3)
16
in Schedule 1", substitute "a superannuation guarantee education
17
direction in accordance with subsection 384-17(1) in Schedule 1".
18
18 Paragraph 298-5(c) in Schedule 1
19
Omit "384-15", substitute "384-17".
20
Schedule 1
Assisting businesses to meet their record-keeping obligations
Part 3
Application and transitional provisions
8
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
No. , 2022
Part 3--Application and transitional provisions
1
19 Application of amendments
2
(1)
The Commissioner may only give a direction under
3
subsection 384-12(1) in Schedule 1 to the
Taxation Administration Act
4
1953
(as inserted by this Schedule) on or after the day (the
start day
)
5
after the end of the period of 3 months beginning on the day this Act
6
receives the Royal Assent.
7
(2)
Such a direction may relate to a failure to comply with a record-keeping
8
obligation arising before the start day (including a record-keeping
9
obligation arising before the day this Act receives the Royal Assent).
10
20 Transitional
--existing education directions
11
An education direction that:
12
(a) is given under subsection 384-15(1) in Schedule 1 to the
13
Taxation Administration Act 1953
; and
14
(b) is in force immediately before the commencement of this
15
Schedule;
16
continues in force (and may be dealt with) as if it had been given under
17
subsection 384-10(1) in Schedule 1 to that Act as amended by this
18
Schedule.
19
Sharing economy reporting regime
Schedule 2
No. , 2022
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
9
Schedule 2--Sharing economy reporting
1
regime
2
3
Taxation Administration Act 1953
4
1 Section 396-55 in Schedule 1 (at the end of the table)
5
Add:
6
7
15
an operator of an
electronic distribution
platform (within the
meaning of the
*
GST
Act, but disregarding
paragraph 84-70(1)(c)
of that Act)
the provision of consideration (within the meaning
of the GST Act) by an entity to another entity (the
supplier
) wholly or partly for a
*
supply made by
the supplier through the electronic distribution
platform, if:
(a) the supply is connected with the indirect tax
zone (within the meaning of the GST Act), or
would be connected with the indirect tax zone
(within the meaning of the GST Act) if the
definition of
indirect tax zone
in the GST Act
included the external Territories; and
(b) no amount is required by Division 12 to be
withheld from the payment of the consideration;
and
(c) the operator and the supplier are not
*
members
of the same
*
consolidated group or
*
MEC
group; and
(d) the supply is not any of the following:
(i) a supply by way of transfer of ownership
of goods (within the meaning of the GST
Act);
(ii) a supply by way of transfer of ownership
of real property (within the meaning of
the GST Act);
(iii) a financial supply (within the meaning
of the GST Act)
2 Application of amendment
8
The amendment made by this Schedule applies in relation to
9
transactions entered into on or after:
10
Schedule 2
Sharing economy reporting regime
10
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
No. , 2022
(a) for a transaction relating to a supply of taxi travel (within the
1
meaning of the
A New Tax System (Goods and Services Tax)
2
Act 1999
)--1 July 2023; or
3
(b) for a transaction relating to a supply of short-term
4
accommodation--1 July 2023; or
5
(c) in any other case--1 July 2024.
6
Removing the self-education expenses threshold
Schedule 3
No. , 2022
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
11
Schedule 3--Removing the self-education
1
expenses threshold
2
3
Fringe Benefits Tax Assessment Act 1986
4
1 Paragraph 19(1)(b)
5
Omit "section 82A of the
Income Tax Assessment Act 1936
, and".
6
2 Paragraph 19(1)(b)
7
Omit "either of those Acts", substitute "that Act or the
Income Tax
8
Assessment Act 1936
".
9
3 Paragraph 19(1)(ba) (subparagraph (ii) of the definition of
10
RD)
11
Omit "section 82A of the
Income Tax Assessment Act 1936
, and
12
Divisions 28 and 900 of the
Income Tax Assessment Act 1997
, have
13
been allowable as a once-only deduction to the recipient under the
14
Income Tax Assessment Act 1936
or the
Income Tax Assessment Act
15
1997
", substitute "Divisions 28 and 900 of the
Income Tax Assessment
16
Act 1997
, have been allowable as a once-only deduction to the recipient
17
under that Act or the
Income Tax Assessment Act 1936
".
18
4 Paragraph 24(1)(b)
19
Omit "section 82A of the
Income Tax Assessment Act 1936
, and".
20
5 Paragraph 24(1)(b)
21
Omit "either of those Acts", substitute "that Act or the
Income Tax
22
Assessment Act 1936
".
23
6 Paragraph 24(1)(ba) (subparagraph (ii) of the definition of
24
RD)
25
Omit "section 82A of the
Income Tax Assessment Act 1936
, and".
26
7 Paragraph 24(1)(ba) (subparagraph (ii) of the definition of
27
RD)
28
Omit "either of those Acts", substitute "that Act or the
Income Tax
29
Assessment Act 1936
".
30
Schedule 3
Removing the self-education expenses threshold
12
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
No. , 2022
8 Paragraph 37(b)
1
Omit "section 82A of the
Income Tax Assessment Act 1936
, and".
2
9 Paragraph 37(c) (subparagraph (ii) of the definition of RD)
3
Omit "section 82A of the
Income Tax Assessment Act 1936
, and".
4
10 Paragraph 44(1)(b)
5
Omit "section 82A of the
Income Tax Assessment Act 1936
, and".
6
11 Paragraph 44(1)(b)
7
Omit "either of those Acts", substitute "that Act or the
Income Tax
8
Assessment Act 1936
".
9
12 Paragraph 44(1)(ba) (subparagraph (ii) of the definition of
10
RD)
11
Omit "section 82A of the
Income Tax Assessment Act 1936
, and".
12
13 Paragraph 44(1)(ba) (subparagraph (ii) of the definition of
13
RD)
14
Omit "either of those Acts", substitute "that Act or the
Income Tax
15
Assessment Act 1936
".
16
14 Paragraph 52(1)(b)
17
Omit "section 82A of the
Income Tax Assessment Act 1936
, and".
18
15 Paragraph 52(1)(b)
19
Omit "either of those Acts", substitute "that Act or the
Income Tax
20
Assessment Act 1936
".
21
16 Paragraph 52(1)(ba) (subparagraph (ii) of the definition of
22
RD)
23
Omit "section 82A of the
Income Tax Assessment Act 1936
, and".
24
17 Paragraph 52(1)(ba) (subparagraph (ii) of the definition of
25
RD)
26
Omit "either of those Acts", substitute "that Act or the
Income Tax
27
Assessment Act 1936
".
28
Removing the self-education expenses threshold
Schedule 3
No. , 2022
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
13
Income Tax Assessment Act 1936
1
18 Paragraph 21A(3)(b)
2
Omit "section 82A, and".
3
19 Paragraph 21A(3)(b)
4
Omit "of this Act,".
5
20 Paragraph 26AJ(2)(b)
6
Omit "section 82A, and".
7
21 Paragraph 26AJ(2)(b)
8
Omit "of this Act,".
9
22 Paragraph 26AJ(2)(d) (definition of Reducing amount)
10
Omit "section 82A, and".
11
23 Paragraph 26AJ(2)(d) (definition of Reducing amount)
12
Omit "of this Act,".
13
24 Paragraph 26AJ(3)(b)
14
Omit "section 82A, and".
15
25 Paragraph 26AJ(3)(b)
16
Omit "of this Act,".
17
26 Section 82A
18
Repeal the section.
19
27 Subsection 109CA(5)
20
Omit all the words after "expenditure,", substitute "ignoring
21
Divisions 28 (Car expenses) and 900 (Substantiation rules) of the
22
Income Tax Assessment Act 1997
".
23
Schedule 3
Removing the self-education expenses threshold
14
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
No. , 2022
Income Tax Assessment Act 1997
1
28 Section 12-
5 (table item headed "education expenses")
2
Omit:
3
limit on deduction ..............................................................
82A
29 Section 12-
5 (table item headed "overseas debtors
4
repayment levy")
5
Omit:
6
limit on deduction ..............................................................
82A
30 Section 12-
5 (table item headed "student start-up loans")
7
Omit:
8
limit on deduction ..............................................................
82A
31 Section 12-
5 (table item headed "trade support loan")
9
Omit:
10
limit on deduction ..............................................................
82A
32 Section 12-
5 (table item headed "VET student loans")
11
Omit:
12
limit on deduction ..............................................................
82A
33 Application of amendments
13
(1)
The amendments of the
Income Tax Assessment Act 1936
and the
14
Income Tax Assessment Act 1997
made by this Schedule apply to
15
assessments for the 2022-23 income year and later income years.
16
(2)
The amendments of the
Fringe Benefits Tax Assessment Act 1986
made
17
by this Schedule apply to the FBT year starting on 1 April 2023 and to
18
later FBT years.
19
Increased Tribunal powers for small business tax decisions
Schedule 4
No. , 2022
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
15
Schedule 4--Increased Tribunal powers for
1
small business tax decisions
2
3
Taxation Administration Act 1953
4
1 Section 14ZQ
5
Insert:
6
small business taxation assessment decision
means a taxation
7
decision that is:
8
(a) an assessment of tax-related liabilities (as defined in
9
section 255-1 in Schedule 1) relating in whole or in part to
10
carrying on a business; and
11
(b) made in relation to a small business entity (within the
12
meaning of the
Income Tax Assessment Act 1997
).
13
2 At the end of section 14ZZB
14
Add:
15
(3) However, despite subsection (1), section 41 of the AAT Act
16
applies in relation to a reviewable objection decision that relates to
17
a small business taxation assessment decision, subject to the
18
modifications set out in section 14ZZH.
19
3 After section 14ZZG
20
Insert:
21
14ZZH Modification of section 41 of the AAT Act
22
Section 41 of the AAT Act applies in relation to a reviewable
23
objection decision that relates to a small business taxation
24
assessment decision as if the following subsection were inserted
25
after subsection (3):
26
"(3A) The Tribunal must not make an order under subsection (2), or an
27
order varying or revoking an order in force under subsection (2),
28
unless:
29
Schedule 4
Increased Tribunal powers for small business tax decisions
16
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
No. , 2022
(a) the proceeding before the Tribunal is in the Small Business
1
Taxation Division of the Tribunal; and
2
(b) if the party requesting the order is not the Commissioner of
3
Taxation--the party satisfies the Tribunal that, when
4
considered in the context of both the particular circumstances
5
of
the decision under review and the overall taxation system,
6
the application for review and the request for making the
7
order are not frivolous, vexatious, misconceived, lacking in
8
substance or otherwise intended to unduly impede, prejudice
9
or restrict the proper administration or operation of a taxation
10
law.
11
Note 1:
The kind of orders that the Tribunal may make under this section as
12
modified by section 14ZZH of the
Taxation Administration Act 1953
13
include the following:
14
(a) an order directing the Commissioner not to sue in a court to
15
recover a specified amount relating to the reviewable objection
16
decision (see subsection 255-5(2) in Schedule 1 to the
Taxation
17
Administration Act 1953
);
18
(b) an order directing the Commissioner to offer or accept payment
19
of a liability relating to the reviewable objection decision by
20
instalments under a specified arrangement (see section 255-15 in
21
Schedule 1 to the
Taxation Administration Act 1953
);
22
(c) an order directing the Commissioner not to issue one or more
23
written notices to specified third parties who owe or may later
24
owe money to the applicant as a means of recovering a liability
25
relating to the reviewable objection decision (see section 260-5
26
in Schedule 1 to the
Taxation Administration Act 1953
).
27
Note 2:
However, an order that would materially and permanently alter the
28
decision under review would not be an order staying or otherwise
29
affecting the operation or implementation of such a decision for the
30
purpose of securing the effectiveness of the hearing and determination
31
of the application for review. For example:
32
(a) an order directing the Commissioner to defer the time at which a
33
tax liability becomes due and payable; or
34
(b) an order directing the Commissioner to remit the imposition of
35
interest charges on unpaid liabilities that are due and payable.".
36
4 Section 14ZZM
37
Before "The", insert "(1)".
38
5 At the end of section 14ZZM
39
Add:
40
Increased Tribunal powers for small business tax decisions
Schedule 4
No. , 2022
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
17
(2) However, the application of subsection (1) in relation to a small
1
business taxation assessment decision is subject to any order made
2
under section 41 of the AAT Act (as modified by section 14ZZH of
3
this Act) in relation to the decision.
4
6 Application
5
The amendments made by this Schedule apply in relation to
6
applications for review made on or after the commencement of this
7
Schedule.
8
Schedule 5
Expanding eligibility for downsizer contributions
18
Treasury Laws Amendment (2022 Measures No. 2) Bill 2022
No. , 2022
Schedule 5--Expanding eligibility for
1
downsizer contributions
2
3
Income Tax Assessment Act 1997
4
1 Paragraph 292-102(1)(a)
5
Omit "60", substitute "55".
6
2 Application of amendment
7
The amendment made by this Schedule applies in relation to
8
contributions made on or after the commencement of this Schedule.
9