Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024 (Cth)

Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024

No. 67, 2024

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

Contents 1 Short title 2 Commencement 3 Schedules Schedule 1—Delivering better financial outcomes—reducing red tape Part 1—Superannuation Division 1—Amendment of the Superannuation Industry (Supervision) Act 1993 Superannuation Industry (Supervision) Act 1993 Division 2—Amendment of the Income Tax Assessment Act 1997 Income Tax Assessment Act 1997 Part 2—Ongoing fee arrangements Corporations Act 2001 Part 3—Financial Services Guides Corporations Act 2001 Part 4—Conflicted remuneration Corporations Act 2001 Part 5—Insurance commissions Corporations Act 2001 Schedule 2—Petroleum resource rent tax anti‑avoidance rules Petroleum Resource Rent Tax Assessment Act 1987 Schedule 3—Capital allowances for mining, quarrying or prospecting rights and clarifying the meaning of exploration for petroleum Part 1—Capital allowances for mining, quarrying or prospecting rights Income Tax Assessment Act 1997 Part 2—Clarifying the meaning of exploration for petroleum Petroleum Resource Rent Tax Assessment Act 1987 Schedule 4—Multilateral development banks Asian Development Bank Act 1966 Asian Development Bank (Additional Subscription) Act 1972 Asian Development Bank (Additional Subscription) Act 1977 Asian Development Bank (Additional Subscription) Act 1983 Asian Development Bank (Additional Subscription) Act 1995 Asian Development Bank (Additional Subscription) Act 2009 European Bank for Reconstruction and Development Act 1990 International Bank for Reconstruction and Development (General Capital Increase) Act 1989 International Bank for Reconstruction and Development (Share Increase) Act 1988 International Financial Institutions (Share Increase) Act 1982 International Financial Institutions (Share Increase) Act 1986 International Monetary Agreements Act 1947 International Monetary Agreements Act 1974 International Monetary Agreements (Quota Increase) Act 1980 Official Development Assistance Multilateral Replenishment Obligations (Special Appropriation) Act 2020 Schedule 5—Miscellaneous and technical amendments Part 1—Amendments commencing day after Royal Assent Division 1—Audit firm's and audit company's rotation obligations Corporations Act 2001 Division 2—Insolvency safe harbour Corporations Act 2001 Division 3—Financial services law Corporations Act 2001 Division 4—Correcting duplicated section number Corporations Act 2001 Division 5—Benefits provided by taking out insurance Superannuation Industry (Supervision) Act 1993 Division 6—Actuaries and auditors of superannuation entities Superannuation Industry (Supervision) Act 1993 Division 7—Financial reporting for superannuation entities Superannuation Industry (Supervision) Act 1993 Part 2—Amendments commencing first day of next quarter Division 1—A New Tax System (Goods and Services Tax) Act 1999 A New Tax System (Goods and Services Tax) Act 1999 Division 2—CDEP Scheme Income Tax Assessment Act 1936 Income Tax Rates Act 1986 Small Superannuation Accounts Act 1995 Taxation Administration Act 1953 Division 3—Value shifting Income Tax Assessment Act 1997 Division 4—Transfer Pricing Guidelines Income Tax Assessment Act 1997 Part 3—Other amendments: duty of superannuation trustees to notify the Regulator of significant adverse events Superannuation Industry (Supervision) Act 1993 Schedule 6—Location offset and producer offset for films Part 1—Location offset amount Income Tax Assessment Act 1997 Part 2—Location offset conditions Division 1—Amendments Income Tax Assessment Act 1997 Division 2—Application provisions Part 3—Producer offset Income Tax Assessment Act 1997