Taxation Laws Amendment Bill (No. 1) 2002

Type: Government
Portfolio: Treasury
Originating house: House of Representatives
Status: Act
Parliament no: 40
Summary: Amends the:
Income Tax Assessment Act 1936
  and
Income Tax Assessment Act 1997
  to allow an immediate tax deduction for specific prepaid expenditure invested in a plantation forestry managed agreement; and
Income Tax Assessment Act 1997
  to remove an unintended limitation on the Commissioner of Taxation’s discretion under the non-commercial losses rules. Also contains a minor consequential amendment and application and transitional provisions.

Progress

House of Representatives
21 Feb 2002	Introduced and read a first time
21 Feb 2002	Second reading moved
20 Mar 2002	Second reading agreed to
20 Mar 2002	Third reading agreed to

Senate
20 Mar 2002	Second reading moved
20 Mar 2002	Introduced and read a first time
21 Mar 2002	Second reading agreed to
21 Mar 2002	Committee of the Whole debate Amendment details: 3 Opposition agreed to
21 Mar 2002	Third reading agreed to

House of Representatives
21 Mar 2002	Consideration of Senate message Details: House agreed to Senate amendments

04 Apr 2002

Assent

Act no.: 26

Year: 2002

Documents and transcripts

Text of bill

First reading

Explanatory memoranda

Explanatory Memorandum

Transcript of speeches

Proposed amendments

House of Representatives
Senate Amendments

Schedules of amendments

No documents at present

Committee Information

No documents at present

Bills Digest

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Helpful information

Text of bill

First reading: Text of the bill as introduced into the Parliament
Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changed to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.

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