Tax Laws Amendment (2014 Measures No. 1) Bill 2014

Type
Government
Portfolio
Treasury 
Originating house
House of Representatives 
Status
Act 
Parliament no
44
Summary
Amends the:
Income Tax Assessment Act 1997
  to: enable individuals to consolidate multiple farm management deposits (FMD); and increase the taxable non-primary production income threshold;
Banking Act 1959
  to exclude an FMD from becoming unclaimed moneys;
Income Tax (Transitional Provisions) Act 1997
  to retrospectively clarify the tax treatment of FMDs that became unclaimed money;
A New Tax System (Goods and Services Tax) Act 1999
,
Income Tax Assessment Act 1936
  and
Taxation Administration Act 1953
  to: ensure that overpaid goods and services tax is only refundable in certain circumstances; and make consequential amendments; and
Taxation Administration Act 1953
  to: enable merits review of certain commissioner’s decisions; and validate certain past objections and reviews. 

Track this bill (What's this?)

Permalink

Progress

House of Representatives
27 Mar 2014Introduced and read a first time
27 Mar 2014Second reading moved
14 May 2014Second reading debate
14 May 2014Second reading agreed to
14 May 2014Third reading agreed to
Senate
14 May 2014Introduced and read a first time
14 May 2014Second reading moved
15 May 2014Second reading debate
15 May 2014Second reading agreed to
15 May 2014Third reading agreed to


15 May 2014Finally passed both Houses
30 May 2014Assent

Act no.: 34

Year: 2014

Documents and transcripts

Text of bill

Word Format PDF Format
Word Format PDF Format

Explanatory memoranda

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

No documents at present

Back to top

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.

Back to top

Facebook LinkedIn Twitter Add | Email Print