Tax Laws Amendment (2010 Measures No. 2) Bill 2010

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
42
Summary
Amends: the
Income Tax Assessment Act 1936
and
Income Tax Assessment Act 1997
to: prevent shareholders of private companies accessing tax-free dividends from the provision of company assets for less than market value; and make consequential amendments; the
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
and
Taxation Administration Act 1953
to extend existing arrangements for tax file number withholding to cover closely held trusts; the
Income Tax Assessment Act 1997
to: provide that the HECS-HELP benefit is exempt from income tax; update the list of deductible gift recipients; and provide that the Global Carbon Capture and Storage Institute Limited is exempt from income tax for a four-year period; and 108 Acts to repeal certain unlimited periods for amending taxpayers’ assessments.

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Progress

House of Representatives
Introduced and read a first time 17 Mar 2010
Second reading moved 17 Mar 2010
Second reading debate 13 May 2010
Second reading agreed to 13 May 2010
Third reading agreed to 13 May 2010
Senate
Introduced and read a first time 13 May 2010
Second reading moved 13 May 2010
Second reading debate 17 Jun 2010
Second reading agreed to 17 Jun 2010
Committee of the Whole debate
  • Amendment details: 2 Government agreed to
17 Jun 2010
Third reading agreed to 17 Jun 2010
House of Representatives
Consideration of Senate message
  • Details: House agreed to Senate amendments
17 Jun 2010
Text of bill as passed both Houses 17 Jun 2010
Assent
  • Act no.: 75
  • Year: 2010
28 Jun 2010

Documents and transcripts

Text of bill

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Word Format PDF Format HTML Format

Explanatory memoranda

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Word Format PDF Format HTML Format

Proposed amendments

Senate

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Schedules of amendments

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Bills digest

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Notes

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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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