Tax Laws Amendment (2004 Measures No. 4) Bill 2004

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Not Proceeding
Parliament no
40
Summary
Amends the:
Income Tax Assessment Act 1997
and
Income Tax (Transitional Provisions) Act 1997
to clarify the operation of the consolidation regime and the interaction of the regime with other areas of the tax law;
Income Tax Assessment Act 1997
,
Income Tax (Transitional Provisions) Act 1997
and
Taxation Administration Act 1953
to ensure that: copyright collecting societies are not taxed on copyright income they collect on behalf of members; and non-copyright income under prescribed limits is tax exempt;
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
,
Taxation Administration Act 1953
and
Taxation Laws Amendment Act (No. 8) 2003
to: further implement the simplified imputation system, including anti-avoidance rules in relation to exempt entities that are eligible for a refund of imputation credits; and to replace and update certain references and terminology; and
Income Tax Assessment Act 1997
to: certain fire and emergency service bodies and other entities as specifically-listed deductible gift recipients; and extend an existing transitional rule in the debt/equity rules for at-call loans to 30 June 2005. Also contains application provisions.

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Progress

House of Representatives
Introduced and read a first time 24 Jun 2004
Second reading moved 24 Jun 2004
Second reading agreed to 11 Aug 2004
Third reading agreed to 11 Aug 2004
Senate
Introduced and read a first time 12 Aug 2004
Second reading moved 12 Aug 2004
Lapsed at end of Parliament 16 Nov 2004

Documents and transcripts

Text of bill

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Explanatory memoranda

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Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

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 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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