News in brief… 29 November 2022

Legislation update: Bill to lower income tax rate for some foreign resident workers passes parliament; Legislation update: Sharing economy reporting bill passes parliament; Legislation update: Privacy penalty bill passes parliament; Legislation update: Privacy penalty bill passes parliament; APRA’s response to consultations on proposed revisions to interest rate risk framework; ATO update: GST determinations for waiving tax invoice holding requirements released for consultation

Legislation update: Bill to lower income tax rate for some foreign resident workers passes parliament Legislation to reduce the tax rate on certain income earned by foreign resident workers participating in the Pacific Australia Labour Mobility scheme, among other measures, has passed both Houses of Parliament.  The Treasury Laws Amendment (2022 Measures No. 3) Bill 2022: doubles the maximum financial penalties for contraventions of provisions that relate only to residential land; ...

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Published Date: 29 November 2022