This bill became law on Nov 27th, 2023.
Budget, tax & economy
Financial advisers can now be registered separately under more than one Australian financial services licenceA licence that lets a business provide certain financial services, including employing or registering financial advisers., making it easier to work for different licensees.
Gaps in existing law left advisers tied to one licence, limited ASICThe corporate regulator that can register financial advisers and, under this bill, replace a computer-assisted decision if it finds the result was wrong.’s ability to fix wrong automated decisions, and left Australia without clear powers for sustainability and assurance standards. This bill updates those laws to allow multi-licence registration, let ASICThe corporate regulator that can register financial advisers and, under this bill, replace a computer-assisted decision if it finds the result was wrong. replace faulty computer-made decisions, expand standard-setting powers, and require extra duties for tax practitioners.
Existing treasury, corporations and tax laws had left practical gaps: financial advisers were effectively tied to a single licence registration, ASICThe corporate regulator that can register financial advisers and, under this bill, replace a computer-assisted decision if it finds the result was wrong. had limited power to replace wrong computer-assisted decisions, and Australia lacked clear statutory powers for sustainability reporting, assurance standards and extra tax practitioner duties. The bill responded by bundling those fixes into one integrity package introduced in February 2023, passed by Parliament in November 2023 and enacted on 27 November 2023 so regulators and standard setters could use the new powers.
The main criticism was that the bill’s franking credit and share buyback changes could unfairly hit retirees, investors and smaller companies by discouraging capital raising and disrupting ordinary business transactions. Those objections were raised mainly by Coalition speakers and some crossbenchers, while even supportive senators pushed to narrow the drafting so legitimate small-business dealings were not caught.
Stephen Jones MP introduced this bill. It passed with support from Labor, Greens, Jacqui Lambie Network, some crossbench members; opposed by Liberal Party, Nationals, One Nation, UAP, some crossbench members.
Did it become law?
Yes
Became law 27 Nov 2023
Final passage
Recorded final vote
1 counted final-passage vote was recorded.
Passage speed
284 days
From introduction to the latest recorded parliamentary step
Meaning
Financial advisers can now be registered separately under more than one Australian financial services licenceA licence that lets a business provide certain financial services, including employing or registering financial advisers., making it easier to work for different licensees.
ASICThe corporate regulator that can register financial advisers and, under this bill, replace a computer-assisted decision if it finds the result was wrong. can replace an automated decisionA process where ASIC uses a computer to help make a decision, which this bill lets ASIC override if the result is incorrect. if it finds the computer-assisted result was wrong.
Australia's accounting standard setter can now write sustainability reporting standards, creating local rules that other regulators can later adopt or apply.
Australia can now set auditing and assurance standards for checking sustainability reporting, not just traditional financial reports.
Registered tax agents and BASA regular tax form businesses use to report and pay GST and other tax amounts; BAS agents help prepare and lodge it. agents can be made to follow extra professional and ethical duties set by the minister, as long as those duties stay consistent with the existing code.
(1B) To avoid doubt, a relevant provider is able to be registered under subsection (1A) multiple times in relation to different financial services licensees.Treasury Laws Amendment (2023 Measures No. 1) Act 2023 final Act text
(3) ASIC may substitute a decision for a decision (the initial decision) the making of which is assisted by the operation of such a process under an arrangement under subsection (1) if ASIC is satisfied that the initial decision is incorrect.Treasury Laws Amendment (2023 Measures No. 1) Act 2023 final Act text
(ca) to formulate sustainability standards; andTreasury Laws Amendment (2023 Measures No. 1) Act 2023 final Act text
(b) to formulate auditing and assurance standards for sustainability and other purposes; andTreasury Laws Amendment (2023 Measures No. 1) Act 2023 final Act text
(2) The obligations must relate to the professional and ethical conduct of *registered tax agents and BAS agents. The obligations may elaborate or supplement any aspect of the *Code of Professional Conduct but must not be inconsistent with the Code.Treasury Laws Amendment (2023 Measures No. 1) Act 2023 final Act text
Context
Existing treasury, corporations and tax laws had left practical gaps: financial advisers were effectively tied to a single licence registration, ASICThe corporate regulator that can register financial advisers and, under this bill, replace a computer-assisted decision if it finds the result was wrong. had limited power to replace wrong computer-assisted decisions, and Australia lacked clear statutory powers for sustainability reporting, assurance standards and extra tax practitioner duties. The bill responded by bundling those fixes into one integrity package introduced in February 2023, passed by Parliament in November 2023 and enacted on 27 November 2023 so regulators and standard setters could use the new powers.
Government introduces an integrity bill to fix gaps in financial services and tax law
In his second reading speech, the Assistant Treasurer said the bill contained integrity measures to make the financial services and tax system work as intended, including fixing gaps across several existing laws.
Hansard ↗House advances the tax and financial-services package
The House agreed to the bill at second reading, moving forward a package covering adviser registration, ASICThe corporate regulator that can register financial advisers and, under this bill, replace a computer-assisted decision if it finds the result was wrong. powers over faulty automated decisions, sustainability standards, off-market buy-backs and franked distributions.
Parliamentary timeline ↗House passes the bill
Third reading in the House completed passage through the first chamber and sent the bundled reforms to the Senate.
Parliamentary timeline ↗Senate passes the bill with amendments
The Senate agreed to the bill and to amendment packages, clearing the way for the two chambers to settle the final text.
Parliamentary timeline ↗Parliament passes the bill
After the House agreed to the Senate amendments, both houses had passed the same version of the bill and parliamentary passage was complete.
Parliamentary timeline ↗Royal AssentThe final step that turns a bill into an Act of Parliament so its legal changes can start to operate. makes the changes law
Royal AssentThe final step that turns a bill into an Act of Parliament so its legal changes can start to operate. turned the bill into an Act, allowing the new registration, regulatory, standard-setting and tax practitioner measures to take effect under the amended laws.
Parliamentary timeline ↗Legislative route
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
Introduced and read a first time
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
Second reading moved
The bill reached this recorded parliamentary step.
Referred to Federation Chamber
The bill reached this recorded parliamentary step.
Second reading debate
The bill reached this recorded parliamentary step.
The chamber agreed to the bill at second reading, meaning it accepted the bill in principle and allowed it to continue.
Second reading agreed to
The chamber considered the bill in detail and dealt with amendments before the next stage.
Consideration in detail debate
The bill reached this recorded parliamentary step.
Reported from Federation Chamber
The chamber agreed to the bill at third reading, which completed passage through that chamber. Later message exchanges with the other chamber were still recorded afterwards.
Third reading agreed to
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
Introduced and read a first time
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
Second reading moved
Referred to Committee (09/03/2023): Senate Economics Legislation Committee; Committee report (02/06/2023)
Referred to committee
APH bill page notesThe bill reached this recorded parliamentary step.
The chamber agreed to the bill at second reading, meaning it accepted the bill in principle and allowed it to continue.
Second reading agreed to
The chamber considered amendments before the bill moved to the next stage.
Committee of the Whole debate
Recorded vote: 32 to 25.
The chamber agreed to the bill at third reading, which completed passage through that chamber.
Third reading agreed to
The House dealt with Senate amendments or requests so both chambers could settle the bill in the same form.
Consideration of Senate message
Both houses passed the bill in the same form, completing parliamentary passage.
Finally passed both Houses
The Governor-General gave Royal AssentThe final step that turns a bill into an Act of Parliament so its legal changes can start to operate., turning the bill into an Act.
Key criticism
The main criticism was that the bill’s franking credit and share buyback changes could unfairly hit retirees, investors and smaller companies by discouraging capital raising and disrupting ordinary business transactions. Those objections were raised mainly by Coalition speakers and some crossbenchers, while even supportive senators pushed to narrow the drafting so legitimate small-business dealings were not caught.
Most criticism was concentrated on the tax schedules rather than the bill’s other reforms.
Franking credit changes would hurt investors and business growth
Critics argued the franking credit and off-market buyback measures broke earlier promises, would reduce returns for retirees and investors, and could make it harder or more expensive for companies to raise capital, list, and grow in Australia.
Drafting risked catching ordinary small-business transactions
A narrower, more technical criticism was that the anti-avoidance tax measures were drafted too broadly and might accidentally capture legitimate private company capital raisings, restructures and franked dividend distributions, especially for small and medium family businesses.
Further sources
Votes
The chamber-passage votes come first. Expand a vote to see the party breakdown.
House agreed to the bill's third reading on the voices, so there is no list of individual Aye and No votes for final passage in that chamber.
Passed on the voices
In a voice vote, members call out Aye or No and the presiding officer judges which side has it. Individual names are only recorded if a formal division is called.
Passed 32 to 25. Support came from Labor, Greens, Jacqui Lambie Network, and minor parties and independents. Opposition came from Liberal Party, Nationals, One Nation, and UAP. Minor-party and independent votes were split.
Earlier bill-stage votes
Passed 30 to 27. Support came from Labor, Greens, and minor parties and independents. Opposition came from Liberal Party, Nationals, Jacqui Lambie Network, and One Nation. Minor-party and independent votes were split.
Amendments grouped by chamber. These cards include amendment outcomes recorded without a counted division.
House
Passed 82 to 56. Support came from Labor, Greens, and Centre Alliance. Opposition came from Liberal Party and Nationals. Minor-party and independent votes were split.
This kept the bill's disputed tax measures in place and cleared the way for final passage in the House.
Passed 80 to 59. Support came from Labor and Greens. Opposition came from Liberal Party, Nationals, and Centre Alliance. Minor-party and independent votes were split.
This final House vote cleared the amended tax and financial-services package for assent.
The House agreed to the amendments made by the Senate, so the bill could pass both chambers in the same form.
Carried on voices
The chamber decided this amendment without a counted division, so there is no list of individual Aye and No votes.
Senate
Defeated 23 to 31. Support came from Liberal Party, Nationals, One Nation, and UAP. Opposition came from Labor, Greens, Jacqui Lambie Network, and minor parties and independents. Minor-party and independent votes were split.
This was a second-reading position vote, not a text amendment, and its defeat left the bill's super tax measures intact.
Passed 30 to 23. Support came from Labor, Greens, Jacqui Lambie Network, and minor parties and independents. Opposition came from Liberal Party, Nationals, One Nation, and UAP. Minor-party and independent votes were split.
These amendments refined how the bill's disputed franking credit changes would operate before the bill advanced in the Senate.
Passed 45 to 3. Support came from Labor, Greens, Liberal Party, Jacqui Lambie Network, and minor parties and independents. Opposition came from One Nation and UAP.
This kept the sustainability standards measure in the bill and allowed consideration to continue on that part of the package.
Passed 28 to 27. Support came from Labor and Greens. Opposition came from Liberal Party, Nationals, Jacqui Lambie Network, One Nation, and minor parties and independents. Minor-party and independent votes were split.
This was a procedural vote that accelerated consideration of the Tax Practitioners BoardThe body that regulates tax agents and BAS agents, and under this bill can be given extra ethical and professional duties. amendments rather than deciding their substance.
Passed 30 to 27. Support came from Labor, Greens, and minor parties and independents. Opposition came from Liberal Party, Nationals, Jacqui Lambie Network, and One Nation. Minor-party and independent votes were split.
This final committee vote kept the franking credit changes in the bill and let the amended bill be reported back to the Senate.
Defeated 26 to 29. Support came from Liberal Party, Nationals, One Nation, and UAP. Opposition came from Labor, Greens, and minor parties and independents. Minor-party and independent votes were split.
This was a document-request motion, not a bill amendment, and it was defeated.
The Senate agreed on voices to add a note that small and medium family businesses had concerns about the bill's impact on private company capital raisings and franked dividend distributions, while saying the measures are not intended to affect ordinary family or commercial dealings.
Carried on voices
The chamber decided this amendment without a counted division, so there is no list of individual Aye and No votes.
The Senate agreed on voices to change the Tax Practitioners BoardThe body that regulates tax agents and BAS agents, and under this bill can be given extra ethical and professional duties. membership rules so board members must be community representatives and not linked to large tax agents or BASA regular tax form businesses use to report and pay GST and other tax amounts; BAS agents help prepare and lodge it. agents.
Carried on voices
The chamber decided this amendment without a counted division, so there is no list of individual Aye and No votes.
The Senate agreed to Senator McKim amendments without a counted division. The journal records the amendments as carried on voices.
Carried on voices
The chamber decided this amendment without a counted division, so there is no list of individual Aye and No votes.
This list includes amendment votes, procedural votes and votes on the bill itself.
Parliamentary debate
Start here — lead voices
Stephen Jones supports the bill and says it strengthens integrity across the financial services and tax system.
Read in Hansard ↗Rennick says he would vote against the bill, mainly because he rejects the sustainability reporting measures in schedule 2 and thinks they add unnecessary paperwork.
Read in Hansard ↗Barbara Pocock says the Greens will support the bill because it takes an important first step toward cleaning up the tax system after the PwC scandal, especially by removing conflicted big-firm interests from the Tax Practitioners BoardThe body that regulates tax agents and BAS agents, and under this bill can be given extra ethical and professional duties..
Read in Hansard ↗Pocock supports the amended bill because the government has clarified and narrowed the small business measure so it will not capture legitimate franked dividends used in ordinary business restructures.
Read in Hansard ↗All speeches by bloc
7 speakers · 7 support
“Greenwashing needs to stop, and this bill is a significant step towards that. The proposed changes in the bill will improve transparency, sustainability and fairness of the Australian taxation system and enhance outcomes for taxpayers and consumers. I commend the minister for his hard work in ensuring our system is equitable and the government for its commitment to this matter.”Read the full speech in Hansard ↗
“I rise to make a contribution on the Treasury Laws Amendment (2023 Measures No. 1) Bill 2023. This bill aligns with the Albanese government's measured and careful improvements to the Australian financial and taxation system to ensure that it works as intended for all Australians. The bill also advances the interests of ordinary Australians and helps ensure that their retirements are secure.”Read the full speech in Hansard ↗
“We have also announced, as part of this bill, the Treasury Laws Amendment (2023 Measures No. 1) Bill 2023, a measure which aligns the tax treatment of off-market share buybacks with the tax treatment for on-market share buybacks for listed public companies. It makes tax sense that we should align those two arrangements, that off-market and on-market share buybacks should receive the same tax treatment. But, currently, listed public companies offering an off-market share buyback can use tax rules to buy back their shares at below market prices by attaching franking credits to those trades. That is impossible with regular on-market trades. The benefits go predominantly to large businesses, who can use them and save money on their share buybacks. This will not affect the overwhelming majority of shareholders, who will continue to receive franked dividends. Off-market share buybacks represent less than two per cent of total franked distributions. The measure will save some $550 million.”Read the full speech in Hansard ↗
“But what we have in front of us is actually a straightforward TLAB bill. It is a straightforward bill that's gone through the usual processes. It's been consulted a lot. It's gone through the Senate committee. Perspectives have been sought. Amendments are being put. This bill gets the balance right. We are not wasting any time, unlike those opposite, delivering on transparency and integrity. Australians have voted for government that will deliver transparency and integrity, and that is exactly what we are doing with this bill. I commend it to the Senate.”Read the full speech in Hansard ↗
“This bill contains a number of important integrity measures to ensure both our financial service and tax system are working as intended.”Read the full speech in Hansard ↗
“This Bill contains a number of important integrity measures to ensure both our financial service and tax system are working as intended.”Read the full speech in Hansard ↗
“The government also thanks Senator David Pocock for his engagement on the bill. We have amended the explanatory memorandum and supported your second reading amendment to confirm that ordinary family or commercial dealings in private companies, such as succession planning and shareholder exits, will not be affected by this measure. We've listened to the views put forward during the Senate inquiry, and we've worked constructively with the crossbench and made amendments to address that feedback. I commend this bill to the Senate.”Read the full speech in Hansard ↗
11 speakers · 12 contributions · 10 oppose · 1 mixed
“I would vote against all of this bill just on the basis of schedule 2.”Read the full speech in Hansard ↗
“We will fight all and any attempts of this government to raid what they derogatorily describe as a 'honey pot'. This is like some kind of a socialist exercise of redistributing the wealth of self-funded retirees and the superannuation balances of hardworking Australians for the purposes of government policies that the government aren't prepared to properly cost and they can't afford. As we say: when this government run out of their own money, they come after yours. We in the coalition will stand up for people and protect their money. We will fight against broken promises—solemn commitments that this government took to an election that they're already breaking. The self-funded retirees of this country know that they can always count on the coalition to stand up for them against this sort of recklessness.”Read the full speech in Hansard ↗
“Unlike this government, the coalition respects stakeholder opinion; therefore, we cannot support these schedules within the bill. The coalition would support this bill if these offending schedules were discarded from the legislation. We will put forward amendments in relation to this. If the Albanese Labor government do withdraw them, I'm sure they'll find open support from the coalition for this bill.”Read the full speech in Hansard ↗
“So, almost by definition, under this section it is going to be much, much harder for a small or medium-sized company to meet that test than it is for a large company that is in the ASX 50 or ASX 20. We're actually setting up a disincentive. This is a disincentive to a company to list on the ASX. This is a disincentive.”Read the full speech in Hansard ↗
“But schedules 4 and 5 make two sneaky changes to the franking credits regime. Schedule 4 amends the Income Tax Assessment Act to limit the ability of the listed companies to offer franking credits in off-market share buybacks. And schedule 5 amends the Income Tax Assessment Act to limit the ability of the listed companies to offer franking credits on capital raisings. This is despite the fact that the Prime Minister and the Treasurer both ruled out changes to franking credits before the election. They both ruled out changes to franking credits before the election, and they've snuck those two schedules into this Treasury laws amendment bill. Make no mistake, this is another broken promise from the Albanese government. The coalition will move amendments to strike out these broken promises from the bill. But, if the government doesn't accept the amendments, we won't be supporting this bill because it is just another broken promise.”Read the full speech in Hansard ↗
“This bill represents sweeping changes to superannuation and franking credits, changes that will impact hardworking ordinary Australians the hardest.”Read the full speech in Hansard ↗
“Before the election, this Prime Minister and the Treasurer made many promises. They broke their promise to cut electricity bills by $275. They broke their promise of cheaper mortgages. They broke their promise of lower inflation. They broke their promise of 'no changes to super'. They broke their promise, with this bill, of not touching franking credits. The Australian people know that this is not the end of this government's new taxes and broken promises. It's just the beginning. When Labor runs out of money, they come after yours.”Read the full speech in Hansard ↗
“It's outrageous that the government can break its commitment so quickly and so easily, showing that they have little regard for the Australian people, who trusted them. That is why I will move the second reading amendment circulated in the name of Senator Hume. The government's actions are shameful, and they must be called out. The coalition will move amendments to strike out these broken promises from the bill. By doing so, we can then in good faith support some of the sensible measures within it. So, to be clear, the coalition will move amendments to strike out the broken promises contained in this bill, leaving a bill that we can in good faith support. If the government doesn't accept the coalition's amendments, we will not be supporting the bill. And even if the government does intend to keep its promises, the coalition will at least continue to hold it to account.”Read the full speech in Hansard ↗
“I am quite proud to stand here, on this side of the House, along with my colleagues, and oppose this bill tooth and nail, because it will have a negative impact on the ability of companies to raise, manage and access capital, to do the very things the government says it wants them to do. This bill should die an honourable death. I oppose this bill, as do my colleagues.”Read the full speech in Hansard ↗
“The coalition will move amendments to strike out from the Treasury Laws Amendment (2023 Measures No. 1) Bill 2023 the measures that would break these promises. But, if the government doesn't accept these amendments, we will not be supporting this bill, because it is just another broken promise from the Albanese government.”Read the full speech in Hansard ↗
Hansard records 2 separate contributions by Andrew Bragg on this bill. They are grouped here so the speaker is listed once.
Second reading speech
Bragg opposes the bill because he says schedule 5, on franked distributions funded by capital raisings, is based on weak data and could discourage companies from raising equity in Australia. He argues the measure is badly drafted, risks capital raisings, and should not proceed.
“This is not a large improvement to the budget, but it is still a tax increase, which the government promised it wouldn't do. It promised that it wouldn't be doing anything to franking credits. It promised that. So we go back to 22 October last year and the government's first budget, and there it is in the budget papers—a proposal to disrupt franking credits, particularly in relation to capital raisings. The problem here is that it sets out an established practice test. That is a problem with this proposal. It may well work for you, if you're a large company that's been paying the same franked dividends for 10 years. You can probably keep doing that. But if you are a new company—and most new companies are small and disruptive—you haven't got an established practice test, so, therefore, you cannot pay a franked dividend. When you raise money—as all companies do because every company needs equity capital—as far as I can see, you won't be able to pay a franked dividend. That is the reality.”Read this contribution in Hansard ↗
Second reading speech
Bragg opposes the bill, saying it risks the franking system and would raise little revenue from an old problem that no longer exists. He argues the government’s amendments are ineffective window dressing and that the bill is fiscally driven rather than a sound reform.
“But the substantive point here is that these amendments, according to all the legal advice we've been able to obtain in the past few days, are rubbish—these are rubbish amendments on a rubbish bill designed to a fix a problem that was solved six years ago.”Read this contribution in Hansard ↗
3 speakers · 3 support
“Our amendments aim to address this issue and this particular problem. Through this work and this amendment, we've fixed the loophole that allows big consultants to regulate themselves, taking an important step in safeguarding tax revenue from the hungry profiteers of the big four consultancies.”Read the full speech in Hansard ↗
“Without a standard definition of 'climate disclosures' being in place so that investors and activists can hold companies to account, corporate disclosure will remain too generalised, too ad hoc, too removed from financial performance indicators and too prone to greenwashing. That is what we are seeing from a range of big companies at the moment: a concerted effort to greenwash, a concerted effort to deceive the market, a concerted effort to deceive investors and a concerted effort to deceive government, through their greenwashing spin. And it needs to end. So we welcome what we believe is a first step on the way to a genuine climate risk disclosure framework in this country.”Read the full speech in Hansard ↗
“The Greens will support the Treasury Laws Amendment (2023 Measures No. 1) Bill 2023 in the House, and, contrary to the member for Bowman, we would certainly welcome phasing out the stage 3 tax cuts and capital gains tax concessions, which, it's worth noting on International Women's Day, overwhelmingly go to wealthy men. However, we reserve, on this bill, the right to seek to take a different position in the other place, pending a Senate inquiry into this bill.”Read the full speech in Hansard ↗
2 speakers · 1 oppose · 1 mixed
“One Nation will be opposing these changes in schedules 4 and 5 and cannot pass the bill if they remain part of this package.”Read the full speech in Hansard ↗
“Schedule 2 of the bill inserts a new definition of 'international sustainability standards' into the Australian Securities and Investments Commission Act 2001. These are the ISSB standards. One Nation does not consider that our independent, sovereign country is answerable to these unaccountable international organisations. My colleague Senator Roberts will be moving an amendment to get rid of this change, and I urge the Senate to support it. Indeed, we won't be supporting this legislation unless all the amendments I've mentioned are approved. Government must get out of the way of Australian investors and the companies they support and let them do what they do best: create jobs and prosperity for our nation.”Read the full speech in Hansard ↗
1 speaker · 2 contributions · 1 support
Hansard records 2 separate contributions by David Pocock, including an amendment-moving contribution. They are grouped here so the speaker is listed once.
Second reading speech
Pocock supports the amended bill because the government has clarified and narrowed the small business measure so it will not capture legitimate franked dividends used in ordinary business restructures. He says he will back it, while still pushing for better consultation with small businesses before similar laws are introduced.
“Given these changes, I am now in a position to support the amended bill.”Read this contribution in Hansard ↗
Moved amendment
Pocock supports the bill, but wants the Senate to note concerns that its measures could affect private company capital raisings and franked dividends used in ordinary family and commercial dealings. His amendment says the government should make clear the bill is not meant to disrupt succession planning or similar shareholder exits.
“(a) concerns have been raised by small and medium-sized businesses, especially family businesses, regarding the potential impact of measures contained in this Bill on the ability of private companies to undertake capital raisings and franked dividend distributions to facilitate the departure of one or more shareholders from a company; and”Read this contribution in Hansard ↗
Record
House · Introduced and read a first time
Introduced
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
House · Second reading moved
Second reading opened
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
House · Referred to Federation Chamber
Referred to Federation Chamber
The bill reached this recorded parliamentary step.
House · Second reading debate
Second reading debate
The bill reached this recorded parliamentary step.
House · Second reading debate
Second reading debate
The bill reached this recorded parliamentary step.
House · Second reading agreed to
Second reading agreed
The chamber agreed to the bill at second reading, meaning it accepted the bill in principle and allowed it to continue.
House · Consideration in detail debate
Consideration in detail
The chamber considered the bill in detail and dealt with amendments before the next stage.
House · Reported from Federation Chamber
Reported from Federation Chamber
The bill reached this recorded parliamentary step.
House · Third reading agreed to
Third reading agreed
The chamber agreed to the bill at third reading, which completed passage through that chamber.
Senate · Introduced and read a first time
Introduced
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
Senate · Second reading moved
Second reading opened
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
Senate · Second reading debate
Second reading debate
The bill reached this recorded parliamentary step.
Senate · Second reading agreed to
Second reading agreed
The chamber agreed to the bill at second reading, meaning it accepted the bill in principle and allowed it to continue.
Senate · Committee of the whole: amendments considered
Amendment packages agreed
The chamber considered amendments before the bill moved to the next stage.
Senate · Third reading agreed to
Recorded vote: 32 to 25.
Third reading agreed
The chamber agreed to the bill at third reading, which completed passage through that chamber.
House · Consideration of Senate message
House agreed to Senate amendments
The House dealt with Senate amendments or requests so both chambers could settle the bill in the same form.
Parliament · Finally passed both Houses
Passed both houses
Both houses passed the bill in the same form, completing parliamentary passage.
Assent · Assent
Assent
The Governor-General gave Royal AssentThe final step that turns a bill into an Act of Parliament so its legal changes can start to operate., turning the bill into an Act.
Senate Economics Legislation Committee; Committee report (02/06/2023)
Referred to committee
Referred to Committee (9 Mar 2023): Senate Economics Legislation Committee; Committee report (2 June 2023)
APH bill page notes
