New Business Tax System (Consolidation and Other Measures) Bill 2003

Previous Citations
  • New Business Tax System (Consolidation and Other Measures) Bill 2002
Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
40
Summary
Introduced with the New Business Tax System (Venture Capital Deficit Tax) Bill 2002 and further to the
New Business Tax System (Consolidation) Act (No. 1) 2002
,
New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002
and
New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002
, the bill amends the
Income Tax Assessment Act 1936
and
Income Tax Assessment Act 1997
and 5 other Acts to implement the final stage of the consolidation regime which commenced on 1 July 2002 in relation to consolidated groups (including the taxation of life insurance companies) and the simplified imputation system (including venture capital franking). Also contains transitional provisions and makes consequential amendments.

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Progress

House of Representatives
Introduced and read a first time 12 Dec 2002
Second reading moved 12 Dec 2002
Second reading agreed to 12 Feb 2003
Third reading agreed to 12 Feb 2003
Senate
Introduced and read a first time 03 Mar 2003
Second reading moved 03 Mar 2003
Second reading agreed to 06 Mar 2003
Third reading agreed to 06 Mar 2003
Assent
  • Act no.: 16
  • Year: 2003
11 Apr 2003

Documents and transcripts

Text of bill

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Explanatory memoranda

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Word Format PDF Format HTML Format

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Bills digest

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Notes

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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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