Commonwealth Parliament has adjourned until 29 March 2022 for the Budget session.
New Bills introduced into House of Representatives
The Treasury Laws Amendment (Modernising Business Communications) Bill 2022 has been introduced. About the Bill.
The Crimes Legislation Amendment (Ransomware Action Plan) Bill has been introduced. About the Bill.
Bills passed
The Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021 has been passed by both Houses.
UPDATE: Royal Assent given on 22 February 2022.
Among other changes the Act removes the $450 per month income threshold under which employees do not have to be paid the superannuation guarantee by their employer. The change will apply from 1 July 2022 (or if the Bill does not receive Assent until after this date, from the beginning of the next quarter after Assent).
The Security Legislation Amendment (Critical Infrastructure Protection) Bill 2022 was passed by the House of Representatives on 16 February 2022 and has been sent to the Senate. Background.
Bills not passed
The Financial Accountability Regime Bill and the Financial Services Compensation Scheme of Last Resort Bills have not been passed by the House of Representatives but the Senate Economics Legislation Committee Final Report has recommended the passage of all four Bills – Financial Accountability Regime Bill 2021, Financial Sector Reform (Hayne Royal Commission Response No. 3) Bill 2021, Financial Services Compensation Scheme of Last Resort Levy (Collection) Bill 2021, and Financial Services Compensation Scheme of Last Resort Levy Bill 2021 – without amendment.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
