Australia Gazettes Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Act 2025

The Australian Official Gazette Dec. 5 published Act No. 72, the Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Act 2025, effective July 1, 2024. The act includes measures: 1) extending to June 30, 2026, from June 30, 2025, the A$20,000 (US$13,278) instant asset write-off for small businesses with aggregated annual turnover under A$10 million (US$6.6 million); 2) increasing beneficial ownership disclosure obligations for listed companies by requiring disclosure of certain derivative-based interests; 3) requiring individuals to disclose substantial holdings in entities when initially listed on a market; 4) allowing taxpayers to attribute a GST input credit to a ...