Taxation Laws Amendment Bill (No. 2) 2002

Type
Government
Portfolio
Treasury 
Originating house
House of Representatives 
Status
Act 
Parliament no
40
Summary
Amends the:
Income Tax Assessment Act 1936
  in relation to: imputation (consequential on company rate changes); intercorporate dividend rebates for prescribed dual resident companies; eligibility for the senior Australians tax offset; franking rebates for exempt institutions; and a new demutualisation method for non-insurance mutual entities;
Income Tax Assessment Act 1997
  in relation to: certain investment income received by friendly societies; calculation of the capital component of ordinary life insurance investment policies; demutualisation of Tower Corporation;
Income Tax Assessment Act 1936
  and
Income Tax Assessment Act 1997
  in relation to: income tax deductions for gifts to certain organisations; capital gains tax same asset rollovers; refunds of excess imputation credits; and technical amendments; and
Medicare Levy Act 1986
  to correct cross-references. Also makes technical amendments to 24 Acts, repeals certain provisions of 13 Acts and contains application provisions. 

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Progress

House of Representatives
14 Mar 2002Introduced and read a first time
14 Mar 2002Second reading moved
19 Jun 2002Second reading agreed to
19 Jun 2002Third reading agreed to
Senate
24 Jun 2002Introduced and read a first time
24 Jun 2002Second reading moved
27 Jun 2002Second reading agreed to
27 Jun 2002Third reading agreed to


03 Jul 2002Assent

Act no.: 57

Year: 2002

Documents and transcripts

Text of bill

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Word Format PDF Format

Explanatory memoranda

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Word Format PDF Format

Transcript of speeches

Proposed amendments

House of Representatives
Word Format PDF Format

Schedules of amendments

No documents at present

Committee Information

No documents at present

Bills Digest PDF Format

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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 theĀ 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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