Tim Wilson (Goldstein, Liberal Party, Assistant Minister to the Minister for Industry, Energy and Emissions Reduction) Share this | Hansard source

Firstly, I would like to thank those members who have contributed to this debate. Schedule 1 of this bill extends existing third-party reporting requirements to operators of electronic platforms. Platform operators will be required to report to the Australian Taxation Office information regarding certain transactions that occur on their platforms, such as seller identification and payment details. This information will assist the ATO in its administration of the tax system and ensure that sellers on these platforms are meeting their tax obligations. Schedule 2 to the bill amends the Treasury Laws Amendment (Putting Consumers First—Establishment of the Australian Financial Complaints Authority) Act 2018 to facilitate the closure of the Superannuation Complaints Tribunal and any transitional arrangements associated with the Australian Financial Complaints Authority replacing the Superannuation Complaints Tribunal. Schedule 3 to the bill reduces compliance costs for individuals claiming self-education deductions by removing the exclusion of the first $250 of deductions for prescribed courses of education. I commend the bill to the House.

See this speech in context