Date posted: 23/05/2022

NSW Parliament passes Bill implementing significant changes to state tax legislation

The State Revenue and Fines Legislation Amendment (Miscellaneous) Bill 2022 (the Bill) passed both houses of the NSW Parliament on 11 May 2022 and is awaiting Assent.

The Bill makes several significant amendments to:

  • state taxation and grant legislation - to enhance revenue integrity, ensure the equity of exemptions and concessions, address anomalies, respond to court decisions, close tax avoidance loopholes and reduce red tape
  • state debt legislation - to enhance Revenue NSW's role in delivering an end-to-end payment collection and debt recovery capability for the State
  • fines legislation - to improve customer service and strengthen enforcement of overdue fines. 

Separately, the Bill also contains some amendments to the Liquor Act 2007.

The reforms to the Taxation Administration Act 1996 in the Bill represent one of the most significant enhancements to the integrity of the NSW taxation system in its history. These amendments aim to improve tax compliance and consist of new general provisions relating to tax avoidance schemes; penalties to deter the promotion of tax avoidance schemes; and new penalty tax provisions.

Notably, the Bill also incorporates a general power allowing the Chief Commissioner of State Revenue to disclose information to a NSW or Federal government agency for the purpose of investigation, complaint handling or law enforcement. 

Further details on the Bill are available on the NSW legislation website. On the date of Assent, a technical guide will be published on the Revenue NSW website.

State Revenue and Fines Legislation Amendment (Miscellaneous) Bill 2022

Download a copy of the Bill and explanatory note

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