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
17 Mar 2010Introduced and read a first time
17 Mar 2010Second reading moved
13 May 2010Second reading debate
13 May 2010Second reading agreed to
13 May 2010Third reading agreed to
Senate
13 May 2010Introduced and read a first time
13 May 2010Second reading moved
17 Jun 2010Second reading debate
17 Jun 2010Second reading agreed to
17 Jun 2010Committee of the Whole debate

Amendment details: 2 Government agreed to
17 Jun 2010Third reading agreed to
House of Representatives
17 Jun 2010Consideration of Senate message

Details: House agreed to Senate amendments


17 Jun 2010Text of bill as passed both Houses
28 Jun 2010Assent

Act no.: 75

Year: 2010

Documents and transcripts

Text of bill

Word Format PDF Format
Word Format PDF Format

Explanatory memoranda

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Word Format PDF Format

Transcript of speeches

Proposed amendments

Senate
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Schedules of amendments

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Committee Information

No documents at present

Bills Digest PDF Format

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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