Australia Gazettes Treasury Laws Amendment (Responsible Buy Now Pay Later, Other Measures) Act 2024

The Australian Official Gazette Dec. 13 published Act No. 138, the Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024, amending the law on taxation, consumer credit, the Medicare levy, and federal financial relations. The law includes measures: 1) providing an annual 4 percent capital works deduction for new build-to-rent developments; 2) extending provisions of the National Credit Code to buy now pay later contracts and low-cost credit contracts; 3) exempting specified lump sum tax payments in arrears from the Medicare levy; 4) clarifying the country-by-country (CbC) information reporting obligations for specified multinational entities; and 5) ...