Australia's Department of the Treasury has published draft legislation and regulations for consultation to correct technical defects and unintended outcomes across tax, corporations, superannuation, aged care and government stock laws. The proposals would expand access to tax offsets for unused leave following genuine redundancy, preserve intended goods and services tax treatment for residential care services, correct the valuation of certain superannuation interests and simplify deceased estate transfers of government stock. Individuals receiving unused annual leave or long service leave payments because their positions were genuinely made redundant would qualify for the relevant tax offset without needing an additional qualifying payment. The regulations would maintain GST-free treatment for specified residential care services even where a higher everyday living fee is charged, applying to supplies from Nov. 1, 2025. A separate correction, applying from just before July 1, 2026, would prevent certain notional superannuation interests subject to family law payment splits from being assigned an incorrect opening value that could inflate Division 296 tax liabilities. Other amendments would clarify the Corporations Act definition of director, add Adelaide University to the institutions whose qualifications may be recognized for auditor registration and update references in life insurance rules. The bill would also remove the statutory declaration requirement when government stock is transmitted from a deceased estate, while retaining the requirement to provide probate, letters of administration or another document authorizing estate administration.

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