Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2024 (Cth)

Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2024

No. 52, 2024

An Act to amend the law relating to taxation, financial services and corporations, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedules Schedule 1—$20,000 instant asset write‑off for small business entities Income Tax (Transitional Provisions) Act 1997 Schedule 2—Small business energy incentive Income Tax (Transitional Provisions) Act 1997 Schedule 3—New class of deductible gift recipients Part 1—Amendment of the Income Tax Assessment Act 1997 Income Tax Assessment Act 1997 Part 2—Amendment of the Taxation Administration Act 1953 Taxation Administration Act 1953 Part 3—Other amendments A New Tax System (Australian Business Number) Act 1999 Schedule 4—Deductible gift recipients—specific listings Income Tax Assessment Act 1997 Schedule 5—Exemption for Global Infrastructure Hub Ltd Income Tax Assessment Act 1997 Schedule 6—Income tax amendments for updates to accounting standards for general insurance contracts Part 1—Main amendments Income Tax Assessment Act 1997 Part 2—Other amendments Income Tax Assessment Act 1997 Part 3—Application and transitional provisions Schedule 7—Non‑arm's length expenses of superannuation funds Income Tax Assessment Act 1997 Schedule 8—AFCA scheme Part 1—Main amendments Corporations Act 2001 Part 2—Application provision Corporations Act 2001 Part 3—Other amendments Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023

Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2024 No. 52, 2024

An Act to amend the law relating to taxation, financial services and corporations, and for related purposes

[Assented to 28 June 2024]

The Parliament of Australia enacts:

1 Short title This Act is the Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2024.