Tax Laws Amendment (2005 Measures No. 5) Bill 2005

Type: Government
Portfolio: Treasury
Originating house: House of Representatives
Status: Act
Parliament no: 41
Summary: Amends the:
Income Tax Assessment Act 1936
  to: modify the foreign employment income exemption; and extend the operation of the 12-month rule for forestry managed investments to 30 June 2008;
Income Tax Assessment Act 1997
: to allow qualifying high budget television series to apply for the refundable film tax offset; and in relation to debt/equity rules;
Income Tax Assessment Act 1997
  and 3 other Acts to clarify the operation of the consolidation regime;
Income Tax (Transitional Provisions) Act 1997
  to make transitional arrangements in relation to the thin capitalisation regime; and
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
  and
New Business Tax System (Debt and Equity) Act 2001
  to make technical amendments in relation to debt/equity rules.

Progress

House of Representatives
18 Aug 2005	Introduced and read a first time
18 Aug 2005	Second reading moved
07 Sep 2005	Second reading agreed to
07 Sep 2005	Third reading agreed to

Senate
07 Sep 2005	Introduced and read a first time
07 Sep 2005	Second reading moved
08 Dec 2005	Second reading agreed to
08 Dec 2005	Third reading agreed to

19 Dec 2005

Assent

Act no.: 162

Year: 2005

Documents and transcripts

Text of bill

First reading

Explanatory memoranda

Explanatory Memorandum

Transcript of speeches

Proposed amendments

No documents at present

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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