Private ownership of Nazi materials, including war souvenirs or items displayed in museums, will not be banned but any individual seeking to pass on such items will not be able to seek payment.
“There is no place in Australia for symbols that glorify the horrors of the Holocaust,” Attorney-General Mark Dreyfus said.
“And we will no longer allow people to profit from the display and sale of items which celebrate the Nazis and their evil ideology.”
Religious use of the swastika, a symbol of spiritual significance to faiths such as Hinduism, Buddhism and Jainism, will not be limited.
“The Albanese government is sending the clearest possible signal to those who seek to spread hatred, violence and anti-Semitism that we find these actions repugnant and they will not be tolerated,” Mr Dreyfus said.
Opposition Leader Peter Dutton attempted to introduce legislation to ban Nazi symbols after an ugly protest in Melbourne in March. The Victorian state Liberal MP Moira Deeming was criticised for attending the anti-transgender rally which was gatecrashed by neo-Nazi protesters.
She was subsequently removed from the Victorian parliamentary Liberal Party.
Labor rejected the Coalition’s bill and wants its own legislation to be passed by the Senate in the spring session of parliament.