Treasury Laws Amendment (2022 Measures No. 3) 2022

# Treasury Laws Amendment (2022 Measures No. 3) Bill 2022 ## What it does This bill makes several technical changes to Australian laws covering foreign investment rules, tax treatment of new visa programs, disaster response powers, and superannuation investments in faith-based products. It's mostly a housekeeping bill that updates existing rules rather than creating entirely new ones. ## Why it matters The most visible change is a significant crackdown on foreign investment breaches—penalties are doubling, which signals the government is getting tougher on companies that ignore foreign ownership rules. The changes to disaster response powers and tax settings for visa programs could affect businesses and workers, though these are less immediately obvious to everyday Australians. ## Key details - **Foreign investment penalties double**: Civil penalties jump from $15,000 to $30,000 for individuals, and $150,000 to $300,000 for companies. Pecuniary penalties also increase from 25% to 50% of the transaction value (effective 1 January 2023). - **Disaster data sharing expands**: Government agencies get immediate new powers to share data with each other during major disasters without normal privacy restrictions—useful for coordinating emergency responses but worth watching for privacy implications. - **Faith-based superannuation**: Trustees can now invest in products aligned with religious or ethical beliefs, giving fund members more choice in where their retirement savings go (takes effect upon royal assent).

🔒 Voting closed — this bill has been decided by parliament