Since Federal Parliament finished its Autumn session on Thursday 29 March 2018, there has been no movement on the legislative front.
However, it is worth noting that the following key tax Bills were given Royal Assent:
- Treasury Laws Amendment (Income Tax Consolidation Integrity) Bill 2018, which makes various changes to improve the integrity and operation of the tax consolidation regime.
- Treasury Laws Amendment (2018 Measures No. 1) Bill 2018, which extends the loss relief and asset roll-over for merging superannuation funds until 1 July 2020, and requires (from 1 July 2018) purchasers of new residential premises and new subdivisions of potential residential land to make a payment of part of the purchase price representing the goods and services tax (GST) directly to the Australian Taxation Office.
- Treasury Laws Amendment (Junior Minerals Exploration Incentive) Bill 2017, which introduces the Junior Minerals Exploration Incentive (JMEI) for those who invest in small minerals exploration companies undertaking greenfields minerals exploration in Australia.
Federal Parliament commences the Winter sitting on Tuesday 8 May 2018, which is also the day of the 2018-19 Federal Budget.