Treasury Laws Amendment (2021 Measures No. 4) 2021

✦ Plain-English Summary

# Treasury Laws Amendment (2021 Measures No. 4) Bill 2021

## What it does

This bill makes six separate changes to tax and financial laws. The main ones are: letting employers offer tax-free training courses to help workers retrain (without paying fringe benefits tax), extending tax breaks for mineral exploration companies, allowing people to give property to family members as granny flats without capital gains tax, and tweaking rules around financial product safety and tax offsets.

## Why it matters

These changes mainly help businesses claim tax deductions for training workers, support the mining sector, and make it easier for families to share property without unexpected tax bills. The training exemption is particularly relevant post-COVID as people look to reskill for different jobs.

## Key details

- **Training benefit**: Employers can now provide eligible education or training courses to employees tax-free (fringe benefits tax exemption), starting from the first quarter after the bill gets Royal Assent
- **Granny flats**: Families can transfer property for aged care arrangements without triggering capital gains tax from 1 July following Royal Assent
- **Mineral exploration**: Tax incentives for junior exploration companies are extended, with changes effective from 1 July 2021

Official Description

Amends the: Fringe Benefits Tax Assessment Act 1986 to provide employers with an exemption from fringe benefits tax if they provide training or education to a redundant, or soon to be redundant, employee for the purpose of assisting that employee to gain new employment; Income Tax Assessment Act 1997 to: extend the operation of the junior minerals exploration incentive for a further four years; and include a reporting requirement for mineral exploration companies where no exploration investment has occurred to enable unused exploration credits to be identified earlier and reallocated; Treasury Laws Amendment (Junior Minerals Exploration Incentive) Act 2018 to make consequential amendments; Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 to provide a capital gains tax exemption for granny flat arrangements where there is a formal written agreement in place; Corporations Act 2001 and National Consumer Credit Protection Act 2009 to provide that the Australian Securities and Investment Commission is not prohibited from making a product intervention order that has conditions relating to fees, charges or other consideration payable by a retail client or consumer in relation to a financial or credit product; International Tax Agreements Act 1953 to disregard days spent in Australia due to COVID-19 by New Zealand sportspersons on teams participating in cross-border competitions and their support staff in determining whether income derived from such competitions is taxable in Australia; and Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020 to retain the low and middle income tax offset for the 2021-22 financial year.

Committee Referrals

Senate Economics Legislation Committee

Full bill PDF →APH page →

Audit History

Introduced

26 May 2021

Last updated on APH

10 Apr 2026

Outcome date

30 June 2021

Last checked by Crossbench

yesterday

Full text indexed

yesterday

🗳️

No formal division recorded

This bill passed by voice vote — parliament agreed without calling a formal count. A division is only recorded when a member explicitly requests one.

Constituent votes

Voting is closed — this bill has been decided by parliament.

No votes yet.

No votes were recorded for this bill.

🔒 Voting closed — this bill has been decided by parliament