Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill

Bills are proposals to make a new law or to change an existing one. Only Parliament can pass a bill. Each bill goes through several stages, giving MPs and the public the chance to have their say.

This taxation omnibus bill introduces amendments to the Income Tax Act 2007, the Tax Administration Act 1994, and the Student Loan Scheme Act 2011. The three main policy proposals in the bill are: changes to business taxation to make tax simpler; implementing the G20/OECD standard for Automatic Exchange of Financial Account Information in Tax Matters; and changes to implement the disclosure requirements for foreign trusts recommended by the Government Inquiry into Foreign Trust Disclosure Rules.