The Senate on Fri 28.6.2013, passed the following Bills without amendment and they effectively await Royal Assent:
- Tax Laws Amendment (2013 Measures No 1) Bill 2013 – contains amendments concerning: CGT scrip-for-scrip rollover; tax exemption for ex-gratia payments for natural disasters; new DGR category. The Bill had passed the House of Reps without amendment.
- Tax Laws Amendment (2013 Measures No 2) Bill 2013 – contains amendments concerning: monthly PAYG instalments for large taxpayers; public release of tax info of large taxpayers; removing CGT discount for foreign individuals; tax loss incentive for infrastructure projects; regulatory framework for financial planners [subsequently deleted from the Bill]; indexation of super thresholds; GST-free treatment of NDIS funded supports; update DGR list; tax exemption for payments under Defence Abuse Reparation Scheme; PRRT amendments; misc amendments. The Bill was amended by the House of Reps to remove the provisions that proposed to create a new regulatory regime within the Tax Agent Services Act 2009 for entities in the financial services industry that give tax advice. Those provisions were then re-introduced in the Tax Laws Amendment (No 3) Bill, but with a 12-month deferral of their start date.
- Tax Laws Amendment (2013 Measures No 3) Bill 2013 – contains amendments concerning: bringing financial planners within the tax agent services regime [that were deleted from Tax Bill No 2] with effect from 1 July 2014; update DGR list. The Bill had passed the House of Reps without amendment.
[LTN 123, 28/6/13]