Tax Laws Amendment (2013 Measures No. 2) Bill 2013

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
43

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Summary

Amends: the Taxation Administration Act 1953 to: require certain large entities to pay Pay As You Go instalments monthly rather than quarterly or annually; require the commissioner to publish limited information about the tax affairs of large corporate taxpayers; enable the publication of periodic aggregate tax collection information; and enable information sharing between government agencies in relation to foreign acquisitions and investment decisions affecting Australia; the Income Tax Assessment Act 1936, Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 to provide a tax incentive for entities that carry on a nationally significant infrastructure project that has been designated by the Infrastructure Coordinator; the Petroleum Resource Rent Tax Assessment Act 1987 to address unintended impacts arising from the Federal Court’s decision in Esso Australia Resources Pty Ltd v Commissioner of Taxation [2012] FCAFC 5; the Income Tax Assessment Act 1997 to: remove the capital gains tax discount on discount capital gains accrued after 8 May 2012 by foreign and temporary resident individuals; and exempt payments made under the Defence Abuse Reparation Scheme from income tax; the A New Tax System (Goods and Services Tax) Act 1999 to ensure that certain National Disability Insurance Scheme funded supports are GST-free; the Income Tax Assessment Act 1997, Tax Laws Amendment (2011 Measures No. 2) Act 2011 and proposed Tax Laws Amendment (Special Conditions for Not-for-profit Concessions) Act 2013 in relation to deductible gift recipients; the Income Tax Assessment Act 1936, Income Tax Assessment Act 1997 and Infrastructure Australia Act 2008 to make consequential amendments; and seven Acts to make technical amendments.

Progress

House of Representatives
Introduced and read a first time 29 May 2013
Second reading moved 29 May 2013
Second reading debate 06 Jun 2013
Second reading agreed to 06 Jun 2013
Consideration in detail debate
  • Amendment details: 6 Government agreed to
06 Jun 2013
Third reading agreed to 06 Jun 2013
Senate
Introduced and read a first time 17 Jun 2013
Second reading moved 17 Jun 2013
Second reading debate 28 Jun 2013
Second reading agreed to 28 Jun 2013
Third reading agreed to 28 Jun 2013
Text of bill as passed both Houses 28 Jun 2013
Assent
  • Act no.: 124
  • Year: 2013
29 Jun 2013

Documents and transcripts

Text of bill

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Explanatory memoranda

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Proposed amendments

House of representatives

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Senate

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Schedules of amendments

No documents at present

Notes

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.