Australia Parliament Passes Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Bill 2025

The Australian Parliament Nov. 27 passed the Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Bill 2025, to amend the Corporations Act 2001 and other laws. The bill includes measures to: 1) extend to June 30, 2026, from June 30, 2025, the A$20,000 (US$13,216) instant asset write-off for small businesses with aggregated annual turnover under A$10 million (US$6.6 million); 2) amend the beneficial ownership reporting obligations for listed companies by requiring disclosures of certain derivative-based interests; 3) require individuals to disclose substantial holdings in entities initially listed on a market; 4) allow taxpayers to attribute a GST input credit ...