Treasury Laws Amendment (2021 Measures No. 6) 2021

✦ Plain-English Summary

# Treasury Laws Amendment (2021 Measures No. 6) Bill 2021

## What it does
This bill makes changes to three separate areas of Australian law: it lets renewable energy generators claim refunds on certain levies, it tightens penalties for businesses that break industry codes (like the banking code), and it makes it easier to access superannuation information during family law disputes.

## Why it matters
These changes affect everyday Australians in different ways—energy costs could shift, banks and other big businesses face stronger consequences for misconduct, and people going through divorce or separation can now more easily see what super their ex-partner has.

## Key details

**Renewable energy refunds**: Large-scale renewable energy providers can get money back if they've overpaid the generation shortfall charge. This kicks in from the next quarter after the law passes (January, April, July or October).

**Stronger industry code enforcement**: Companies that break codes of conduct in banking, energy, and other sectors now face tougher penalties. This starts the day after the bill becomes law.

**Superannuation in family disputes**: From April 2022, family law courts can more easily access information about superannuation holdings when splitting assets between separating couples. This only applies once Western Australia's related superannuation splitting laws take effect.

Official Description

Amends the: Income Tax Assessment Act 1997 to: make refunds of large-scale generation shortfall charges exempt from income tax; and remove the requirement for superannuation trustees to provide an actuarial certificate when calculating exempt current pension income using the proportionate method, where all members of the fund are fully in the retirement phase for all of the income year; Competition and Consumer Act 2010 to: increase the maximum amount of penalty units that can be included in regulations that prescribe an industry code from 300 to 600 penalty units; clarify that if regulations prescribe an industry code, the industry code may confer on a person or body functions and powers in relation to the code; and Family Law Act 1975 and Taxation Administration Act 1953 to create an information sharing mechanism to allow the family law courts to access certain superannuation information held by the Commissioner of Taxation for the purpose of permitting family law proceedings.

Committee Referrals

Senate Standing Committee for the Scrutiny of Bills

Full bill PDF →APH page →

Audit History

Introduced

11 Aug 2021

Last updated on APH

10 Apr 2026

Outcome date

13 Sept 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.

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