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Latest news on tax and superannuation law and policy

See the latest news on tax and superannuation law and policy.

Last updated 24 November 2024

Latest announcements

Budget 2024–25

The government handed down the 2024–25 Budget on 14 May 2024, with several changes to tax and superannuation laws (see budget.gov.auExternal Link).

Budget changes to tax and superannuation laws

Measure name

Proposed start date

Developments

Australian Universities Accord – tertiary education system reforms

1 June 23

Universities Accord (Student Support and Other Measures) Bill 2024External Link

Introduced 15 August 2024

Child Care Subsidy Reform – further measures for strong and sustainable foundations

1 April 25

N/A

Cyber Security of Regulators and Improving Registers

March 25

N/A

Debts on hold

Unknown

TBA

Deductible gift recipients specific listings

Various

TBA

Deferral of start date for Expanding the general anti-avoidance rule in the income tax law (Part IVA)

Royal assent

TBA

Deferral of start date for Streamlining Excise – bunker fuels

1 July 2024 or royal assent

Excise and Customs Legislation Amendment (Streamlining Administration) Act 2024External Link

Royal assent 28 June 2024

Digital Identity

1 July 24

N/A

Employment Services Reform

1 July 24

N/A

Fighting Scams – eInvoicing

1 July 24

N/A

Funded Paid Parental Leave – enhancement

1 July 25

Paid Parental Leave Amendment (Adding Superannuation for a More Secure Retirement) Act 2024External Link

Royal Assent 1 October 2024

Future Made in Australia – Making Australia a Renewable Energy Superpower – Critical Minerals Production tax incentive

1 July 27

TBA

Future Made in Australia – Making Australia a Renewable Energy Superpower Hydrogen Production tax credit

1 July 27

TBA

Future Made in Australia – Strengthening Approvals Processes

Various

N/A

Housing Support: allowing foreign investors to purchase established Build to Rent developments

7:30pm, 14 May 2024

Treasury Laws Amendment (Build to Rent) Bill 2024External Link

Capital Works (Build to Rent Misuse Tax) Bill 2024External Link

Introduced 5 June 2024

Migration system reforms

1 July 24

N/A

National Disability Insurance Scheme – getting the NDIS back on track

TBD

N/A

New Royalty Penalty

1 July 26

TBA

Parliamentary amendments for Thin Capitalisation

1 July 23

Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2023External Link

Royal assent 8 April 2024

Personal Income Tax – Cost of Living – increasing the Medicare levy low-income thresholds

1 July 23

Treasury Laws Amendment (Cost of Living-Medicare Levy) Act 2024External Link

Royal assent 5 March 2024

Personal Income Tax – Cost of Living Tax Cuts

1 July 24

Treasury Laws Amendment (Cost of Living Tax Cuts) Act 2024External Link

Royal assent 5 March 2024

Regulatory Initiatives Grid (RIG)

Late 2024

N/A

Revive – National Cultural Policy

TBD

TBA

Rugby World Cup Limited – tax exemption

1 July 23

TBA

Small Business Support – $20,000 instant asset write-off

1 July 24

Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024External Link

Introduced 5 June 2024

Strengthening Tax Compliance – extending the Personal Income Tax Compliance Program

1 July 27

N/A

Strengthening Tax Compliance – extending the Shadow Economy Compliance Program

1 July 26

N/A

Strengthening Tax Compliance – extending the Tax Avoidance Taskforce

1 July 26

N/A

Strengthening Tax Compliance: Australian Taxation Office Counter Fraud Strategy

1 July 24

N/A

Strengthening Tax Compliance: Extending the ATO’s retention framework for BAS refund from 14 to 30 days

1 July after royal assent

TBA

Strengthening the foreign resident capital gains tax regime (Div 855)

1 July 2025

TBA

Amendments to existing measures for discontinuing the Black Economy – strengthening the Australian Business Number

N/A

No longer proceeding

Discontinue MNE Tax Avoidance Package – intangibles and royalties

N/A

No longer proceeding

MYEFO 2023–24

The government handed down the 2023–24 MYEFO on 13 December 2023, with several changes to tax and superannuation laws (see budget.gov.auExternal Link).

MYEFO changes to tax and superannuation laws

Measure name

Proposed start date

Developments

2023–30 Australian Cyber Security Strategy

N/A

N/A

Access to offenders' superannuation

1 December 2025

TBA

Better Targeted Superannuation Concessions

1 July 2025

Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) Bill 2023External Link

Superannuation (Better Targeted Superannuation Concessions) Imposition Bill 2023External Link

Introduced 30 November 2023

Combatting the Shadow Economy

1 January 2024

N/A

Commonwealth Penalty Unit – increase in value

4 weeks after royal assent

Crimes and Other Legislation Amendment (Omnibus No. 1) Bill 2024External Link

Introduced 27 March 2024

Ceasing the Modernising Business Registers Program

28 August 2023

N/A

Delivering Better Financial Outcomes Package – advisor fees from superannuation

Royal assent

Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Bill 2024External Link

Royal Assent 9 July 2024

Denying deductions for ATO interest charges

1 July 2025

TBA

Digital Identity – myGovID rebrand

Early 2024

Digital ID Act 2024External Link

Royal assent 30 May 2024

Foreign Investment – lower fees for Build to Rent projects

1 July 2024

TBA

Foreign Investment – raising fees for established dwellings

1 July 2024

Treasury Laws Amendment (Foreign Investment) Act 2024External Link

Foreign Acquisitions and Takeovers Fees Imposition Amendment Act 2024External Link

Royal assent 8 April 2024

Federal Administrative Review Body

TBD

Administrative Review Tribunal (Consequential and Transitional Provisions No. 1) Act 2023External Link

Royal assent 31 May 2024

Future of Shared Services

N/A

N/A

Improving the integrity of off-market share buy-backs

18 November 2022

Treasury Laws Amendment (2023 Measures No. 1) Act 2023External Link

Royal assent 27 November 2023

Increasing the integrity of the foreign resident capital gains withholding regime

1 January 2025

Treasury Laws Amendment (2024 Tax and Other Measures No. 1) Bill 2024External Link

Introduced 12 September 2024

Luxury Car Tax – modernising the luxury car tax for fuel-efficient vehicles

1 July 2025

TBA

Modernising and expanding Australia's tax treaty network

1 July 2024

TBA

Modernising MyGov

N/A

N/A

Multinational Tax Integrity Package – improved tax transparency

1 July 2024

Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024External Link

Introduced 5 June 2024

National Cultural Policy – additional support

1 July 2024

Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Bill 2024External Link

Royal Assent 9 July 2024

Philanthropy – updates to the list of specifically listed deductible gift recipients

30 June 2024

TBA

Reforming the treatment of the transfer balance cap for successor fund transfers

1 July 2017

TBA

Responding to the PricewaterhouseCoopers matter

TBC

Treasury Laws Amendment (Tax Accountability and Fairness) Act 2024External Link

Royal assent 31 May 2024

Superannuation Portability Scheme with the Cook Islands

1 July 2025

TBA

Tax integrity – franked distributions funded by capital raisings

Royal assent

Treasury Laws Amendment (2023 Measures No. 1) Act 2023External Link

Royal assent 27 November 2023

Tax Integrity Package – denying deductions for payments relating to intangibles held in low-or no-tax jurisdictions

N/A

No longer proceeding

REVERSAL: Streamlining excise administration for fuel and alcohol package – Uniform Business Experience

N/A

No longer proceeding

REVERSAL: Superannuation account matching service (Employment White Paper)

N/A

No longer proceeding

QC43473