Tax Laws Amendment (2007 Measures No. 4) Bill 2007

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
41

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Summary

Part of a package of three bills, the bill amends the taxation laws in relation to: foreign income tax offset rules; capital gains tax roll-over for medical defence organisations; superannuation funds investment in instalment warrants; updating the list of deductible gift recipients; increasing family trust flexibility; trustee beneficiary reporting rules; the transition to the simplified superannuation regime; and makes technical and other amendments in relation to: income tax deductibility for gifts to certain scholarship funds; the formula for the fringe benefit tax depreciation rate for a car; tax file number withholding from payments to certain exempt entities; and capital gains tax exemption for certain organisations. Also repeals the A New Tax System (Ultimate Beneficiary Non-disclosure Tax) Act (No. 1) 1999 and A New Tax System (Ultimate Beneficiary Non-disclosure Tax) Act (No. 2) 1999.

Progress

House of Representatives
Introduced and read a first time 21 Jun 2007
Second reading moved 21 Jun 2007
Second reading agreed to 13 Aug 2007
Third reading agreed to 13 Aug 2007
Senate
Introduced and read a first time 14 Aug 2007
Second reading moved 14 Aug 2007
Second reading agreed to 18 Sep 2007
Third reading agreed to 18 Sep 2007
Assent
  • Act no.: 143
  • Year: 2007
24 Sep 2007

Documents and transcripts

Text of bill

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Explanatory memoranda

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Proposed amendments

House of representatives

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Senate

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Schedules of amendments

No documents at present

Bills digest

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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.