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12 Sep 2019 Bills awaiting Royal Assent

Treasury Laws Amendment (Making Sure Multinationals Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2019 

The Treasury Laws Amendment (Making Sure Multinationals Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2019passed both Houses on 9 September 2019 and is awaiting Royal Assent. 

The bill makes amendments to: 

  • Thin capitalisation: Schedule 1 to this Bill amends the ITAA 1997 to tighten Australia’s thin capitalisation rules 
  • Online hotel bookings: Schedule 2 to this Bill requires offshore suppliers of rights or options to use commercial accommodation in Australia to include these supplies in working out their GST turnover. 
  • Removing luxury car tax on re-imported cars refurbished overseas: Schedule 3 to this Bill removes liability for luxury car tax from cars that are re-imported following service, repair or refurbishment overseas.
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