Tax Reform 'Clean-up' Bill

Treasury Laws Amendment (2022 Measures No. 2) Bill 2022

The Government has begun the ‘clean-up’ of the pre-election announced tax and super related measures with Treasury Laws Amendment (2022 Measures No. 2) Bill 2022.

This Bill seeks to make a number of important changes, including the following:

  • The removal of the $250 self-education expenses deduction threshold.
  • The introduction of a sharing (i.e., ‘gig’) economy reporting regime.
  • Reducing the minimum age from which eligible individuals can make downsizer contributions, from age 60 (currently) to age 55;
  • A new measure to empower the ATO to issue tax-records education directions.
  • A new measure to allow small businesses to apply to the Small Business Taxation Division to defer debt recovery for eligible disputed tax liabilities.

To find out more, visit the Parliament of Australia website.


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