Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Hansard source

I table a supplementary explanatory memorandum relating to the government amendments to be moved to this bill, and I seek leave to move all these amendments together.

Leave granted.

I thank the Senate, and I move government amendments (1) to (6) on sheet SW102:

(1) Schedule 2, item 10, page 9 (line 6), omit paragraph (a) of the definition of eligible financial service provider in section 789GC.

(2) Schedule 2, item 10, page 9 (line 7), omit ", BAS agent or tax (financial) adviser", substitute "or BAS agent".

(3) Schedule 2, item 12, page 9 (after line 17), after the definition of quarter in section 789GC, insert:

registered tax agent or BAS agent has the same meaning as in the Tax Agent Services Act 2009.

(4) Schedule 2, item 12, page 9 (lines 18 and 19), omit the definition of registered company auditor in section 789GC.

(5) Schedule 2, item 12, page 9 (lines 20 and 21), omit the definition of registered tax agent, BAS agent or tax (financial) adviser in section 789GC.

(6) Schedule 2, item 13, page 11 (lines 1 and 2), omit "states that, in the opinion of the eligible financial service provider,", substitute "confirms that".

These amendments are minor and technical in nature. They are the result of continued consultation with stakeholders who have indicated to the government that a specific wording used in the bill as it stands, combined with the very technical nature of tax and accounting services, could combine to cause practical issues. As such, for the avoidance of that, these amendments will alter the definition of 'financial service provider' in the bill to remove 'registered company auditor' and 'tax (financial) adviser' from the definition of 'eligible financial service provider', leaving qualified accountants, registered tax agents and BAS agents. And, to ensure that the policy intention of the provision is given effect, it will make clear that the issuing of the 10 per cent decline in turnover certificate involves a declaration from an eligible financial service provider that relates to a specific employer and confirms that, based on the information provided, the employer satisfied the 10 per cent decline in turnover test for the designated quarter applicable to a specified time. This replaces the existing requirement that the provider express an opinion.