Tax Laws Amendment (2008 Measures No. 2) Bill 2008

Type
Government
Portfolio
Treasury 
Originating house
House of Representatives 
Status
Act 
Parliament no
42
Summary
Amends the:
Income Tax Assessment Act 1997
  in relation to: amounts misappropriated by an employee or agent; the capital gains tax market value substitution rule for interests in certain companies and trusts; exempting from income tax the Endeavour Executive Award and research fellowships under the Awards program; early completion bonuses for apprentices; the list of deductible gift recipients; deductions for capital expenditure for the establishment of trees in carbon sink forests; tax-free grants under the Tobacco Growers Adjustment Assistance Programme 2006 to certain tobacco growers; and income tax exemptions for rent assistance paid to Austudy recipients and Carer Adjustment Payment recipients;
Superannuation Guarantee (Administration) Act 1992
  in relation to extending the superannuation guarantee late payment offset;
Income Tax Assessment Act 1997
  and
Income Tax (Transitional Provisions) Act 1997
  in relation to tax-free superannuation lump sums paid to persons with a terminal medical condition;
Income Tax Assessment Act 1936
  and
Income Tax Assessment Act 1997
  in relation to extensions of the beneficiary tax offset to the Equine Workers Hardship Wage Supplement Payment; and
Income Tax Assessment Act 1936
  in relation to the farm management deposit scheme. 

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Progress

House of Representatives
20 Mar 2008Introduced and read a first time
20 Mar 2008Second reading moved
13 May 2008Second reading debate
14 May 2008Second reading agreed to
14 May 2008Consideration in detail debate

Amendment details: 6 government agreed to
14 May 2008Third reading agreed to
Senate
16 Jun 2008Introduced and read a first time
16 Jun 2008Second reading moved
17 Jun 2008Second reading debate
17 Jun 2008Second reading agreed to
17 Jun 2008Committee of the Whole debate

Amendment details: 3 Government agreed to
17 Jun 2008Third reading agreed to
House of Representatives
23 Jun 2008Consideration of Senate message

Details: House agreed to Senate amendments


24 Jun 2008Assent

Act no.: 38

Year: 2008

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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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