Tax Laws Amendment (2006 Measures No. 4) Bill 2006

Type: Government
Portfolio: Treasury
Originating house: House of Representatives
Status: Act
Parliament no: 41
Summary: Amends the:
Income Tax Assessment Act 1997
  to extend the marriage breakdown capital gains tax (CGT) roll-over to assets transferred under a binding financial agreement or an arbitral award;
Income Tax (Transitional Provisions) Act 1997
  to clarify the interaction of the consolidation regime with the demerger rules;
Income Tax Assessment Act 1936
  and
Income Tax Assessment Act 1997
  to amend the simplified imputation system to ensure that Australian companies receive franking credits attached to non-assessable non-exempt distributions from New Zealand companies; and
Financial Corporations (Transfer of Assets and Liabilities) Act 1993
,
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
  and
Income Tax (Transitional Provisions) Act 1997
  in relation to the CGT treatment of foreign residents.

Progress

House of Representatives
22 Jun 2006	Introduced and read a first time
22 Jun 2006	Second reading moved
09 Oct 2006	Second reading agreed to
09 Oct 2006	Consideration in detail debate Amendment details: 3 Government agreed to
09 Oct 2006	Third reading agreed to

Senate
16 Oct 2006	Introduced and read a first time
16 Oct 2006	Second reading moved
06 Dec 2006	Second reading agreed to
06 Dec 2006	Committee of the Whole debate Amendment details: 2 Government agreed to
06 Dec 2006	Third reading agreed to

House of Representatives
07 Dec 2006	Consideration of Senate message Details: House agreed to Senate amendments

12 Dec 2006

Assent

Act no.: 168

Year: 2006

Documents and transcripts

Text of bill

First reading
Third reading

Explanatory memoranda

Revised explanatory memorandum
Supplementary explanatory memorandum
Supplementary explanatory memorandum
Explanatory memorandum

Transcript of speeches

Proposed amendments

Senate
Australian Democrats [sheet 5061] MURRAY, Andrew
Australian Democrats [sheet 5126] MURRAY, Andrew
Government [sheet QF252]

House of Representatives
Government [sheet QF248]
Non-Government KATTER, Bob, Jnr, MP

Schedules of amendments

Schedule of the amendments made by the Senate

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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