Tax Laws Amendment (2012 Measures No. 3) Bill 2012

Type
Government
Portfolio
Treasury 
Originating house
House of Representatives 
Status
Act 
Parliament no
43
Summary
Part of a package of three bills in relation to the Seasonal Labour Mobility Program and other taxation matters, the bill amends the:
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
,
Income Tax (Transitional Provisions) Act 1997
  and
Taxation Administration Act 1953
  to apply a new final withholding tax to income derived by non-resident workers participating in the Seasonal Labour Mobility Program;
Excise Act 1901
  and
Excise Tariff Act 1921
  to specify the circumstances where blending the same types of gaseous fuels or the same types of aviation fuels, which have been taxed at different rates, are not treated as excise manufacture and are therefore subject to additional duty;
Income Tax Assessment Act 1936
  to retrospectively clarify that trust beneficiaries who are minors cannot receive the low income tax offset for unearned income earned through trust distributions; and
Income Tax Assessment Act 1997
  to: provide income tax exemptions for clean energy payments made to recipients of payments made under certain schemes; and make the employment termination payment tax offset dependent on an individual’s total taxable income. 

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Progress

House of Representatives
24 May 2012Introduced and read a first time
24 May 2012Second reading moved
30 May 2012Referred to Federation Chamber
30 May 2012Second reading debate
30 May 2012Second reading agreed to
31 May 2012Reported from Federation Chamber
31 May 2012Third reading agreed to
Senate
18 Jun 2012Introduced and read a first time
18 Jun 2012Second reading moved
18 Jun 2012Second reading debate
18 Jun 2012Second reading agreed to
18 Jun 2012Third reading agreed to


18 Jun 2012Text of bill as passed both Houses
21 Jun 2012Assent

Act no.: 58

Year: 2012

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

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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