Treasury Laws Amendment (2016 Measures No. 1) Bill 2016 introduced – amend Corporations Act so ‘start up’ employee share scheme ‘prospectus’ doesn’t have to be made public and amend ITAA97 for 6 new DGR’s

This Bill was introduced into Parliament on 1 December 2016 and amends (amongst other things):

• The Corporations Act 2001 to provide that employee share scheme disclosure documents lodged with the Australian Securities and Investments Commission are not made publicly available for certain start-up companies; and
• The Income Tax Assessment Act 1997 to update the list of deductible gift recipients (The Australasian College of Dermatologists, College of Intensive Care Medicine of Australia and New Zealand, The Royal Australian and New Zealand College of Ophthalmologists, Australian Science Innovations Incorporated, The Ethics Centre Incorporated and Cambridge Australia Scholarships Limited).

[Parliament website – consultation, Bill & EM] [LTN 233, 1/12/16]