Tax Laws Amendment (2010 Measures No. 4) Bill 2010

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Not Proceeding
Parliament no
42
Summary
Amends the:
A New Tax System (Goods and Services Tax) Act 1999
in relation to certain third party payment adjustments;
Income Tax Assessment Act 1997
in relation to: the capital gains tax (CGT) treatment of water entitlements and termination fees; foreign currency gains and losses; certain takeovers and mergers qualifying for CGT scrip for scrip rollover; and the list of deductible gift recipients;
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
,
Tax Laws Amendment (2010 Measures No. 1) Act 2010
and
Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009
in relation to: taxation of financial arrangements; and debt/equity rules;
Income Tax Assessment Act 1936
to: increase the threshold above which a taxpayer may claim the net medical expenses tax offset; and commence annually indexing the threshold to the Consumer Price Index; and
Income Tax Assessment Act 1997
and
Income Tax (Transitional Provisions) Act 1997
to extend access to tax deductible donations to all volunteer based emergency services, including volunteer fire brigades.

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Progress

House of Representatives
Introduced and read a first time 23 Jun 2010
Second reading moved 23 Jun 2010
Lapsed at dissolution 19 Jul 2010

Documents and transcripts

Text of bill

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Explanatory memoranda

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Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

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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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