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Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024 (67 of 2024)
- Front Matter
- 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
- 1 Subsection 6(1) (table item 32, column 1)
- 2 Section 99FA
- 3 Application - financial product advice fees charged to a member
- Division 2 Amendment of the Income Tax Assessment Act 1997
- Income Tax Assessment Act 1997
- 4 Section 12-5 (at the end of the table item headed "superannuation and related business")
- 5 Subsection 295-490(1) (at the end of the table)
- 6 At the end of section 307-10
- 7 Application
- Part 2 Ongoing fee arrangements
- Corporations Act 2001
- 8 Section 9
- 9 After paragraph 110C(3)(d)
- 10 Subdivision B of Division 3 of Part 7.7A
- 11 Subdivision C of Division 3 of Part 7.7A (heading)
- 12 Paragraph 962R(2)(b)
- 13 Paragraph 962S(3)(b)
- 14 Section 962T
- 15 Subsection 962U(3)
- 16 Paragraph 962V(1)(a)
- 17 Subsection 962V(3)
- 18 At the end of Subdivision C of Division 3 of Part 7.7A
- 19 Subdivision D of Division 3 of Part 7.7A (heading)
- 20 At the end of Subdivision D of Division 3 of Part 7.7A
- 21 Subsection 1317E(3) (table items dealing with subsection 962G(4) and section 962P)
- 22 Subsection 1317E(3) (table items dealing with subsections 962U(3) and 962V(3))
- 23 In the appropriate position in subsection 1317E(3)
- 24 Subsection 1317G(1A) (table items 4 to 9)
- 25 Section 1317GA (heading)
- 26 Paragraph 1317GA(1)(a)
- 27 In the appropriate position in Chapter 10
- Part 3 Financial Services Guides
- Corporations Act 2001
- 28 Section 9
- 29 Subsection 923A(1) (note 3)
- 30 After subsection 941C(5)
- 31 Section 941F
- 32 After Division 2 of Part 7.7
- 33 Subsection 952B(1) (paragraph (a) of the definition of defective)
- 34 Subsection 952B(1) (after subparagraph (a)(iii) of the definition of defective)
- 35 Subsection 952B(1) (after paragraph (b) of the definition of disclosure document or statement)
- 36 After subsection 952B(1A)
- 37 Subparagraph 952D(1)(a)(i)
- 38 Subparagraph 952D(1)(a)(ii)
- 39 At the end of paragraph 952D(1)(a)
- 40 Subparagraph 952D(2)(a)(i)
- 41 Subparagraph 952D(2)(a)(ii)
- 42 At the end of paragraph 952D(2)(a)
- 43 Subparagraph 952E(1)(a)(i)
- 44 Subparagraph 952E(1)(a)(ii)
- 45 At the end of paragraph 952E(1)(a)
- 46 Paragraph 952F(1)(a)
- 47 Paragraph 952G(1)(a)
- 48 Paragraph 952H(1)(a)
- 49 Paragraph 952H(1)(b)
- 50 Section 952I (heading)
- 51 After subsection 952I(4)
- 52 Subsection 952I(5)
- 53 Section 952K (heading)
- 54 Subparagraph 952K(a)(ii)
- 55 At the end of paragraph 952K(a)
- 56 Paragraph 952K(b)
- 57 Section 952L (heading)
- 58 Paragraph 952L(1)(a)
- 59 Paragraph 952L(1)(b)
- 60 At the end of paragraph 952L(1)(c)
- 61 Paragraph 952L(3)(a)
- 62 Paragraph 952L(3)(b)
- 63 Subsection 952L(4)
- 64 Section 952M (heading)
- 65 Paragraph 952M(a)
- 66 Paragraph 952M(b)
- 67 Paragraph 952M(d)
- 68 Subsection 953A(1) (paragraph (a) of the definition of defective)
- 69 Subsection 953A(1) (after subparagraph (a)(iii) of the definition of defective)
- 70 Subsection 953A(1) (after paragraph (b) of the definition of disclosure document or statement)
- 71 After subsection 953A(1A)
- 72 Subparagraph 953B(1)(a)(i)
- 73 Subparagraph 953B(1)(b)(i)
- 74 After paragraph 953B(1)(b)
- 75 Paragraph 953B(2)(b)
- 76 Paragraphs 953B(3)(a), (b) and (c)
- 77 Paragraph 953B(4)(a)
- 78 Paragraph 953B(4)(b)
- 79 Subsection 953B(6)
- 80 In the appropriate position in subsection 1317E(3)
- 81 In the appropriate position in Schedule 3
- 82 In the appropriate position in Schedule 3
- Part 4 Conflicted remuneration
- Corporations Act 2001
- 83 Section 9 (definition of conflicted remuneration)
- 84 Section 963A
- 85 After paragraph 963B(1)(ba)
- 86 Paragraph 963B(1)(c)
- 87 Paragraph 963B(1)(d)
- 88 Paragraph 963B(1)(e) (note)
- 89 Subsection 963B(5) (note)
- 90 Paragraph 963C(1)(e)
- 91 Section 963D
- 92 At the end of Part 10.78
- Part 5 Insurance commissions
- Corporations Act 2001
- 93 Paragraph 963B(1)(a)
- 94 Paragraph 963B(1)(b)
- 95 Paragraph 963B(1)(ba)
- 96 After section 963BA
- 97 Section 963K
- 98 Section 963K (note)
- 99 At the end of section 963K
- 100 Subsection 1317E(3) (table item dealing with section 963K)
- 101 At the end of Part 10.78
- Schedule 2 Petroleum resource rent tax anti-avoidance rules
- Petroleum Resource Rent Tax Assessment Act 1987
- 1 Section 52
- 2 Subsection 53(1)
- 3 Application of amendments
- 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
- 1 Paragraph 40-30(6)(b)
- 2 At the end of section 40-30
- 3 After section 40-40
- 4 After section 40-120
- 5 After section 40-215
- 6 Subsection 995-1(1) (at the end of the definition of installed ready for use)
- 7 Application of amendments
- Part 2 Clarifying the meaning of exploration for petroleum
- Petroleum Resource Rent Tax Assessment Act 1987
- 8 At the end of section 37
- 9 Application of amendments
- 10 No retrospective criminal liability
- Schedule 4 Multilateral development banks
- Asian Development Bank Act 1966
- 1 Section 3
- 2 Paragraph 4(a)
- 3 Schedule
- Asian Development Bank (Additional Subscription) Act 1972
- 4 Section 3
- Asian Development Bank (Additional Subscription) Act 1977
- 5 Section 3
- Asian Development Bank (Additional Subscription) Act 1983
- 6 Section 3
- Asian Development Bank (Additional Subscription) Act 1995
- 7 Section 3
- Asian Development Bank (Additional Subscription) Act 2009
- 8 Section 3
- European Bank for Reconstruction and Development Act 1990
- 9 Section 3
- 10 Section 3 (definition of modifying)
- 11 Paragraph 4(a)
- 12 Section 6
- 13 Schedule 1
- International Bank for Reconstruction and Development (General Capital Increase) Act 1989
- 14 Section 3 (definition of Bank)
- 15 Section 3
- 16 At the end of paragraphs 7(2)(a) and (b)
- 17 Paragraph 7(2)(c)
- International Bank for Reconstruction and Development (Share Increase) Act 1988
- 18 Section 3
- International Financial Institutions (Share Increase) Act 1982
- 19 Section 3 (definition of Bank)
- International Financial Institutions (Share Increase) Act 1986
- 20 Section 3 (definition of Bank)
- International Monetary Agreements Act 1947
- 21 Section 3 (definition of Asian Development Bank)
- 22 Section 3 (definition of Bank)
- 23 Section 3 (definition of Bank Agreement)
- 24 Section 3 (definition of Fund)
- 25 Section 3 (definition of Fund Agreement)
- 26 Section 3 (paragraph (a) of the definition of World Bank organisation)
- 27 Schedules 1, 2 and 3
- International Monetary Agreements Act 1974
- 28 Section 3 (definition of Bank)
- International Monetary Agreements (Quota Increase) Act 1980
- 29 Section 3
- Official Development Assistance Multilateral Replenishment Obligations (Special Appropriation) Act 2020
- 30 Section 3
- 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
- 1 Paragraph 324DC(1)(a)
- 2 Paragraph 324DC(2)(a)
- 3 Paragraph 324DD(1)(a)
- 4 Paragraph 324DD(2)(a)
- 5 Paragraph 324DD(3)(a)
- 6 Schedule 3 (table item dealing with subsections 322(1), (1A) (2) and (2A), column headed "Provision")
- Division 2 Insolvency safe harbour
- Corporations Act 2001
- 7 Section 9 (definition of restructuring)
- 8 Paragraph 588GA(1)(b)
- 9 Subsection 588GA(2)
- 10 Paragraphs 588GA(2)(a) and (b)
- 11 Paragraph 588GA(2)(c)
- 12 Paragraph 588GA(2)(d)
- 13 Paragraph 588GA(2)(e)
- 14 Subparagraph 588GA(4)(a)(i)
- Division 3 Financial services law
- Corporations Act 2001
- 15 Paragraph 912D(3)(b)
- 16 Paragraph 912D(3)(c)
- 17 Paragraph 912D(3)(d)
- 18 Paragraph 912D(3)(e)
- 19 Subparagraph 915B(3)(ca)(ii)
- Division 4 Correcting duplicated section number
- Corporations Act 2001
- 20 Section 1684 (the section 1684 inserted by item 176 of Schedule 6 to the Treasury Laws Amendment (2022 Measures No. 4) Act 2023)
- Division 5 Benefits provided by taking out insurance
- Superannuation Industry (Supervision) Act 1993
- 21 After subsection 68AAB(3A)
- 22 After subsection 68AAC(3A)
- 23 Application of amendments
- Division 6 Actuaries and auditors of superannuation entities
- Superannuation Industry (Supervision) Act 1993
- 24 After paragraph 130(1)(aa)
- 25 Paragraph 130(1)(b)
- 26 After the heading to subsection 130(7)
- 27 Paragraph 130AA(1)(b)
- 28 Paragraph 130AA(2)(b)
- 29 Paragraph 130AA(4)(c)
- 30 After the heading to subsection 130AA(12)
- 31 Application of amendments
- Division 7 Financial reporting for superannuation entities
- Superannuation Industry (Supervision) Act 1993
- 32 Section 253 (note 1)
- 33 Section 254 (heading)
- 34 Subsections 254(1) to (3)
- 35 After section 254
- 36 After subsection 299U(8)
- 37 Subsection 299U(9)
- 38 Application of amendments
- 39 Transitional provision - authorised persons
- 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
- 40 Subsection 48-15(2)
- Division 2 CDEP Scheme
- Income Tax Assessment Act 1936
- 41 Subsection 160AAA(1) (paragraph (a) of the definition of rebatable benefit)
- 42 Subsection 160AAA(1) (paragraphs (c) and (d) of the definition of rebatable benefit)
- 43 Paragraphs 202CB(6)(a) and 202CE(7)(a)
- Income Tax Rates Act 1986
- 44 Section 16 (paragraph (c) of the definition of eligible pensioner)
- Small Superannuation Accounts Act 1995
- 45 Subsection 64(7) (paragraph (d) of the definition of Commonwealth income support payment)
- Taxation Administration Act 1953
- 46 Paragraph 12-110(1)(ca) in Schedule 1
- 47 Paragraph 12-110(1)(d) in Schedule 1
- 48 Application of amendments
- Division 3 Value shifting
- Income Tax Assessment Act 1997
- 49 Subsection 727-250(2)
- 50 Application of amendments
- Division 4 Transfer Pricing Guidelines
- Income Tax Assessment Act 1997
- 51 Paragraph 815-135(2)(a)
- 52 Application of amendments
- Part 3 Other amendments: duty of superannuation trustees to notify the Regulator of significant adverse events
- Superannuation Industry (Supervision) Act 1993
- 53 Subsection 106(2)
- Schedule 6 Location offset and producer offset for films
- Part 1 Location offset amount
- Income Tax Assessment Act 1997
- 1 Paragraph 376-2(3)(b)
- 2 Section 376-15
- 3 Application provision - films
- Part 2 Location offset conditions
- Division 1 Amendments
- Income Tax Assessment Act 1997
- 4 Section 376-1
- 5 Subsection 376-20(1)
- 6 At the end of subsection 376-20(1)
- 7 Paragraph 376-20(3)(c)
- 8 Paragraph 376-20(5)(a)
- 9 At the end of section 376-20
- 10 After section 376-25
- 11 After section 376-30
- 12 After paragraph 376-247(2)(b)
- 13 Subsection 995-1(1)
- Division 2 Application provisions
- 14 Application provision - films
- 15 Application provision - use of resident entities for post, digital and visual effects production
- 16 Application provision - minimum training expenditure requirement
- 17 Application provision - infrastructure exemption
- 18 Application provision - training programs exemption
- 19 Application provision - power to request information
- Part 3 Producer offset
- Income Tax Assessment Act 1997
- 20 Subsection 376-65(6)
- 21 Subsection 376-65(6) (after table item 7)
- 22 After subsection 376-65(6)
- 23 Application provision - films
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