Tax Laws Amendment (2012 Measures No. 2) Bill 2012

Type
Government
Portfolio
Treasury 
Originating house
House of Representatives 
Status
Act 
Parliament no
43
Summary
Introduced with the Pay As You Go Withholding Non-compliance Tax Bill 2012, the bill amends the:
Taxation Administration Act 1953
  and four other Acts to: extend the director penalty regime so that directors are personally responsible for their company’s unpaid superannuation guarantee amounts; make directors and their associates liable to pay as you go (PAYG) withholding non-compliance tax in certain circumstances; and ensure that directors cannot discharge their director penalties by placing their company into administration or liquidation when PAYG withholding or superannuation guarantee remains unpaid and unreported three months after the due date;
Income Tax Assessment Act 1997
  and
Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009
  in relation to the taxation of financial arrangements consolidation interaction; and
Income Tax Assessment Act 1997
  to modify the consolidation tax cost setting rules and rights to future income rules. 

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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
20 Jun 2012Second reading agreed to
20 Jun 2012Consideration in detail debate

Amendment details: 2 Government agreed to
20 Jun 2012Third reading agreed to
Senate
21 Jun 2012Introduced and read a first time
21 Jun 2012Second reading moved
27 Jun 2012Second reading debate
27 Jun 2012Second reading agreed to
27 Jun 2012Third reading agreed to


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

Act no.: 99

Year: 2012

Documents and transcripts

Text of bill

Word Format PDF Format
Word Format PDF Format
Word Format PDF Format

Explanatory memoranda

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Word Format PDF Format
Word Format PDF Format

Transcript of speeches

Proposed amendments

House of Representatives
Word Format PDF Format

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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