The following Bills were passed by the Senate on Mon 18.6.2012, without amendment, and now await Royal Assent:
- – contains amendments concerning: Tax Laws Amendment (2012 Measures No 1) Bill 2012Anstis amendments; CGT trading stock exemption for super funds; phasing out dependent spouse tax offset; tax exemption for payments to certain NZ visa holders; and miscellaneous amendments;
- Tax and Superannuation Laws Amendment (2012 Measures No 1) Bill 2012 – contains amendments concerning: giving the Commissioner discretion to withhold “high risk” GST refunds; GST-free health supplies; GST treatment of appropriations; pause indexation of super concessional contributions cap; provide a refund option for excess super contributions up to $10,000; disclosure of superannuation information;
- Tax Laws Amendment (2012 Measures No 3) Bill 2012 – contains amendments re ETP tax offset; minors and low income tax offset; tax exemption for clean energy payments; withholding tax rate of 15% to apply to income derived by non-resident workers participating in the Government’s Seasonal Labour Mobility Program; excise exemption for blends of gaseous and aviation fuels;
- Income Tax (Seasonal Labour Mobility Program Withholding Tax) Bill 2012 – establishes the 15% rate for the Seasonal Labour Mobility Program;
- Tax Laws Amendment (Income Tax Rates) Bill 2012 – increases non-resident tax rates as announced in the 2012-13 Federal Budget.
[LTN 116, 19/6]
Royal Assent
The following Bills all received Royal Assent on 27 June 2012:
- – Act No 71 of 2012.Tax Laws Amendment (2012 Measures No 1) Bill 2012
- Tax and Superannuation Laws Amendment (2012 Measures No 1) Bill 2012 – Act No 75 of 2012.
[LTN 123, 28/6]