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House r7457 Status Assent

Treasury Laws Amendment (Delivering an Efficient and Trusted Tax System) Bill 2026

Introduced by Daniel Mulino, Rebekha Sharkie

Amends:

Income Tax Assessment Act 1997

  • remove the requirement that gifts to deductible gift recipients be valued at $2 or more donor can claim a tax deduction
  • exclude tobacco and gambling related activities from eligibility for the Research and Development Tax Incentive

Income Tax Assessment Act 1936

  • require trustees of closely held trusts to report, in the trust’s income tax return, the quoted tax file numbers of beneficiaries who have an entitlement
  • Australian Securities and Investments Commission Act 2001 , Superannuation Industry (Supervision) Act 1993 and Treasury Laws Amendment (More Competition, Better Prices) Act 2022 to make minor and technical amendments

Summary from the official bill homepage.

Became law

ActTreasury Laws Amendment (Delivering an Efficient and Trusted Tax System) Act 2026
NumberNo. 58, 2026
Assent30 Jun 2026
StatusIn force

Sourced from the Federal Register of Legislation at 21 Oct 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.

Progress

DateStep
House
25 Mar 2026Introduced and read a first time
25 Mar 2026Second reading moved
1 Apr 2026Second reading debate
1 Apr 2026Referred to Federation Chamber
1 Apr 2026Second reading debate
26 May 2026Returned to House for further consideration
28 May 2026Second reading debate
28 May 2026Second reading agreed to
2 Jun 2026Consideration in detail debate
2 Jun 2026Third reading agreed to
Senate
22 Jun 2026Introduced and read a first time
22 Jun 2026Second reading moved
29 Jun 2026Second reading debate
29 Jun 2026Second reading agreed to
29 Jun 2026Third reading agreed to
29 Jun 2026Finally passed both Houses
30 Jun 2026Assent

Official record: bill homepage at aph.gov.au, full text and documents on ParlInfo.