Income Tax (Managed Investment Trust Withholding Tax) Amendment Bill 2012

Type
Government
Portfolio
Treasury 
Originating house
House of Representatives 
Status
Act 
Parliament no
43
Summary
Part of a package of two bills in relation to the managed investment trust (MIT) withholding tax, the bill amends the
Income Tax (Managed Investment Trust Withholding Tax) Act 2008
  to increase the MIT final withholding tax from 7.5 per cent to 15 per cent on fund payments made in the income years commencing on or after 1 July 2012. 

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Progress

House of Representatives
24 May 2012Introduced and read a first time
24 May 2012Second reading moved
20 Jun 2012Second reading debate
25 Jun 2012Second reading debate
26 Jun 2012Second reading debate
26 Jun 2012Second reading agreed to
26 Jun 2012Third reading agreed to
Senate
28 Jun 2012Introduced and read a first time
28 Jun 2012Second reading moved
28 Jun 2012Second reading debate
28 Jun 2012Second reading agreed to
28 Jun 2012Third reading agreed to


28 Jun 2012Text of bill as passed both Houses
29 Jun 2012Assent

Act no.: 96

Year: 2012

Documents and transcripts

Text of bill

Word Format PDF Format
Word Format PDF Format

Explanatory memoranda

Word Format PDF Format
Word Format PDF Format

Transcript of speeches

Proposed amendments

No documents at present

Schedules of amendments

No documents at present

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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