New Business Tax System (Consolidation and Other Measures) Bill (No. 1) 2002

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
40

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Summary

Further to the New Business Tax System (Consolidation) Act (No. 1) 2002 and proposed New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002, the bill amends the Income Tax Assessment Act 1936, Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 to further implement the consolidation regime which commenced on 1 July 2002. Also contains application and transitional provisions and makes consequential amendments to the Financial Corporations (Transfer of Assets and Liabilities) Act 1993, Income Tax Assessment Act 1936, Income Tax Assessment Act 1997, Taxation Administration Act 1953 and Wool Services Privatisation Act 2000.

Progress

House of Representatives
Introduced and read a first time 26 Sep 2002
Second reading moved 26 Sep 2002
Second reading agreed to 16 Oct 2002
Third reading agreed to 16 Oct 2002
Senate
Introduced and read a first time 17 Oct 2002
Second reading moved 17 Oct 2002
Second reading agreed to 18 Nov 2002
Third reading agreed to 18 Nov 2002
Assent
  • Act no.: 117
  • Year: 2002
02 Dec 2002

Documents and transcripts

Text of bill

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Explanatory memoranda

Word Format PDF Format HTML Format
Word Format PDF Format HTML Format

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Notes

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.