Australia: Beneficial ownership, instant asset write-off bill passes parliament
Legislation enhances beneficial ownership disclosure and extends instant asset write-off for 12 months.
Parliament has passed legislation to bolster the substantial holding and tracing notice regimes that govern the disclosure of beneficially owned interests in listed entities and extend the instant asset write-off by 12 months.
The Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Bill 2025 would:
- Enhance the beneficial ownership disclosure obligations that already apply to entities listed on Australia's financial markets
- Provide two new exceptions for the public disclosure of protected Australian Charities and Not-for-profits Commission (ACNC) information about new and ongoing investigations
- Reduce the frequency of the Financial Regulator Assessment Authority's (FRAA) reviews of the Australian Securities and Investments Commission (ASIC) and Australian Prudential Regulation Authority (APRA) to every five years
- Make minor and technical amendments to Treasury portfolio legislation
The bill now awaits Royal Assent.