Treasury Laws Amendment (2016 Measures No 1) Bill 2016 – amendments to Corporations Act 2001 to ensure that ‘employee share scheme’ documents for ‘start ups’ are not made public

On 4 April 2017, the Treasury Laws Amendment (2016 Measures No 1) Bill 2016 received Royal Assent as Act No 25 of 2017. It amends:

• The Corporations Act 2001 to: provide that employee share scheme disclosure documents lodged with the Australian Securities and Investments Commission (ASIC) are not made publicly available for certain start-up companies;
• TheIncome Tax Assessment Act 1997 to update the list of deductible gift recipients; and Income Tax Assessment Act 1936; and
• The Income Tax Assessment Act 1997to provide income tax relief to eligible New Zealand special category visa holders who are impacted by disasters in Australia.

[APH site: Bills Digest, Text of Bill as passed by both Houses, Explanatory Memorandum; LTN 64, 5/4/17]