COVID-19 Response (Taxation and Other Regulatory Urgent Measures) Act 2020

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COVID-19 Response (Taxation and Other Regulatory Urgent Measures) Act 2020

Public Act		2020 No 10
Date of assent		30 April 2020
Commencement		see section 2

1	Title
2	Commencement
	Part 1 Amendments to Inland Revenue Acts
	Income Tax Act 2007 amended
3	Income Tax Act 2007
4	Section CW 33 amended (Allowances and benefits)
5	Section DF 1 amended (Government grants to businesses)
6	Section EW 45 amended (Consideration when debtor released from obligation)
7	New section GB 3B inserted (Arrangements for carrying back net losses: companies)
	GB 3B	Arrangements for carrying back net losses: companies
8	Section GB 4 amended (Arrangements for grouping tax losses: companies)
9	Section IC 9 amended (Date for payment and notice to Commissioner)
10	Section ID 1 amended (Treatment of tax losses by consolidated groups)
11	New section IZ 8 inserted (Election to use net loss for 2019–20 or 2020–21 year as tax loss in preceding year)
	IZ 8	Election to use net loss for 2019–20 or 2020–21 year as tax loss in preceding year
12	Section MD 6 amended (Second requirement: principal care)
13	Section RC 7 amended (Estimation method)
14	Section RM 10 amended (Using refund to satisfy tax liability)
15	Section YA 1 amended (Definitions)
	Tax Administration Act 1994 amended
16	Tax Administration Act 1994
17	Section 3 amended (Interpretation)
18	New heading and new sections 6H and 6I inserted
		COVID-19 response variations
	6H	COVID-19 response: powers to vary provisions of Inland Revenue Acts
	6I	COVID-19 response: Commissioner’s variations
19	New section 7AA inserted (Authorisation to make payments under small business cashflow scheme)
	7AA	Authorisation to make payments under small business cashflow loan scheme
20	Section 80KK amended (Payment by instalment of family tax credit and Best Start tax credit (without abatement))
21	New section 113G inserted (Amended assessments: tax year to which net loss carried back under section IZ 8)
	113G	Amended assessments: tax year to which net loss carried back under section IZ 8
22	Section 183ABAB amended (Remission for taxpayers affected by COVID-19)
23	Schedule 7 amended (Disclosure Rules)
	45B	Social Development: wage subsidy scheme information
	Child Support Act 1991 amended
24	Child Support Act 1991
25	Section 2 amended (Interpretation)
26	Section 9 amended (Social security beneficiaries must apply for formula assessment)
27	Section 27 amended (Election by receiving carer to end formula assessment)
28	Section 35A amended (Living allowance)
29	Section 142 amended (Payment of formula assessment child support to receiving carers who are social security beneficiaries)
	Part 2 Amendments to other Acts
	Animal Welfare Amendment Act (No 2) 2015 amended
30	Animal Welfare Amendment Act (No 2) 2015
31	Section 2 amended (Commencement)
	Credit Contracts Legislation Amendment Act 2019 amended
32	Credit Contracts Legislation Amendment Act 2019
33	Section 2 amended (Commencement)
34	Schedule 2 amended
	Consequential amendments to Schedule 1AA of Credit Contracts and Consumer Finance Act 2003
35	Consequential amendments to Schedule 1AA of Credit Contracts and Consumer Finance Act 2003
	Public Finance Act 1989 amended
36	Public Finance Act 1989
37	New section 41AA inserted (Minister may grant extension of time requirement to provide information on strategic intentions: COVID-19)
	41AA	Minister may grant extension of time requirement to provide information on strategic intentions: COVID-19
	Crown Entities Act 2004 amended
38	Crown Entities Act 2004
39	New section 139C inserted (Responsible Minister may grant extension of time for requirement to provide statement of intent: COVID-19)
	139C	Responsible Minister may grant extension of time for requirement to provide statement of intent: COVID-19
40	New section 149CA inserted (Responsible Minister may grant extension of time for obligation to prepare statement of performance expectations: COVID-19)
	149CA	Responsible Minister may grant extension of time for obligation to prepare statement of performance expectations: COVID-19
	State-Owned Enterprises Act 1986 amended
41	State-Owned Enterprises Act 1986
42	New section 14A inserted (Shareholding Ministers may grant extension of time for delivery of statement of corporate intent: COVID-19)
	14A	Shareholding Ministers may grant extension of time for delivery of statement of corporate intent: COVID-19
	Legislative history
	Administrative information

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COVID-19 Response (Taxation and Other Regulatory Urgent Measures) Act 2020

COVID-19 Response (Taxation and Other Regulatory Urgent Measures) Act 2020

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