Treasury Laws Amendment (2021 Measures No. 5) Act 2021 (Cth)

Treasury Laws Amendment (2021 Measures No. 5) Act 2021

No. 127, 2021

An Act to amend the law relating to taxation, deal with consequential and transitional matters arising from the enactment of the Corporations Amendment (Corporate Insolvency Reforms) Act 2020, make miscellaneous and technical amendments of the law in the Treasury portfolio, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedules Schedule 1—Australian Screen Production Incentive Reforms Income Tax Assessment Act 1997 Schedule 2—Consequential and transitional matters arising from corporate insolvency reforms Australian Securities and Investments Commission Act 2001 Banking Act 1959 Corporations (Aboriginal and Torres Strait Islander) Act 2006 Corporations Act 2001 Crimes (Taxation Offences) Act 1980 Customs Act 1901 Education Services for Overseas Students Act 2000 Excise Act 1901 Export Control Act 2020 Fair Entitlements Guarantee Act 2012 Income Tax Assessment Act 1997 Insurance Act 1973 Life Insurance Act 1995 Superannuation Industry (Supervision) Act 1993 Tax Agent Services Act 2009 Schedule 3—Miscellaneous and technical amendments Part 1—Amendments commencing day after Royal Assent Division 1—New Zealand auditors Corporations Act 2001 Division 2—Country by country reporting Income Tax Assessment Act 1997 Division 3—Recovery of overpayments Superannuation (Unclaimed Money and Lost Members) Act 1999 Division 4—Consumer protections Australian Securities and Investments Commission Act 2001 Division 5—Civil penalties Australian Securities and Investments Commission Act 2001 Corporations Act 2001 Insurance Contracts Act 1984 National Consumer Credit Protection Act 2009 Division 6—Loss carry back choice Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Division 7—Franking account balance Income Tax Assessment Act 1997 Division 8—Protected information Foreign Acquisitions and Takeovers Act 1975 Division 9—Extension of decision period Foreign Acquisitions and Takeovers Act 1975 Division 10—Temporary full expensing Income Tax (Transitional Provisions) Act 1997 Part 2—Amendments commencing the first 1 January, 1 April, 1 July or 1 October to occur after Royal Assent Division 1—Repeal of redundant provisions Income Tax Assessment Act 1997 Taxation Administration Act 1953 Division 2—GST free cars A New Tax System (Goods and Services Tax) Act 1999 A New Tax System (Luxury Car Tax) Act 1999 Division 3—Agents of covered entities Taxation Administration Act 1953 Division 4—Deductible gift recipient Income Tax Assessment Act 1997 Division 5—Expired deductible gift recipients Income Tax Assessment Act 1997 Division 6—Deductible gift recipient Income Tax Assessment Act 1997 Division 7—Minor amendment Taxation Administration Act 1953 Division 8—Finance leases Income Tax Assessment Act 1997 Division 9—Low pool value Income Tax (Transitional Provisions) Act 1997 Division 10—Refund of excess low balance fees Income Tax Assessment Act 1997 Part 3—Other amendments Division 1—Delegation Life Insurance Act 1995 Division 2—KiwiSaver scheme Superannuation (Unclaimed Money and Lost Members) Act 1999 Division 3—Amendments of the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 Division 4—Amendments of the Treasury Laws Amendment (2020 Measures No. 6) Act 2020 Treasury Laws Amendment (2020 Measures No. 6) Act 2020