The following Bills have passed the House of Reps without amendment and now move to the Senate:
- Tax and Superannuation Laws Amendment (2014 Measures No 2) Bill 2014 – contains amendments to prevent dividend washing, protect taxpayers re anticipation of certain discontinued announcements, and changes to the Medicare levy low-income threshold for families.
[LTN 107, 5/6/14]
Passed the Senate and awaits Royal Assent
Tax and Superannuation Laws Amendment (2014 Measures No 2) Bill 2014 – This Bills has passed all stages without amendment, having been passed by the Senate on 19 June 2014.
[LTN 116, 19/6/14]
Royal Assent
Tax and Superannuation Laws Amendment (2014 Measures No 2) Bill 2014 – Act received Royal Assent as Act No 68 of 2014 on 30 June 2014. It contains amendments to:
- introduce an integrity rule to limit the ability of taxpayers to obtain a tax benefit from “dividend washing”;
- ensure outcomes are preserved in relation to tax assessments where: (i) taxpayers have reasonably and in good faith anticipated the impact of identified announcements made by a previous Government that the tax law would be amended with retrospective effect; and (ii) the current Government has now decided that the announced proposal to change the law will not proceed; and
- increase the Medicare levy low-income threshold for families and the dependent child-student component of the threshold.
[LTN 123, 30/6/14]