The following Bills have on Thur 22.11.2012, passed all stages and effectively await Royal Assent:
- Tax Laws Amendment (2012 Measures No 5) Bill 2012 – passed all stages with 3 Government amendments made in the House of Reps, the Bill contains a range of miscellaneous amendments including phasing-out of the mature age worker tax offset; changing eligibility requirements to the conservation tillage refundable tax offset; and making wine equalisation tax rebate amendments.
- Tax Laws Amendment (Clean Building Managed Investment Trust) Bill 2012 – passed all stages with 1 Government amendment made in the House of Reps, the Bill implements a final withholding tax rate of 10% on fund payments from eligible Clean Building Managed Investment Trusts (MITs) made to foreign residents in information exchange countries.
- Personal Liability for Corporate Fault Reform Bill 2012 – passed all stages without amendment and effectively awaits Royal Assent. It implements the Council of Australian Governments’ (COAG) Directors’ Liability reform, which aims to harmonise the imposition of personal criminal liability for corporate fault across Australian jurisdictions [including tax crimes].
[LTN 227, 22/11]