Treasury Laws Amendment (Enterprise Tax Plan No. 2) Bill 2017

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Before Reps
Parliament no
45

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Summary

Further to the Treasury Laws Amendment (Enterprise Tax Plan) Act 2017, the bill amends the: Income Tax Rates Act 1986 to: progressively extend the lower 27.5 per cent corporate tax rate to all corporate tax entities by the 2023-24 financial year; and further reduce the corporate tax rate in stages so that by the 2026 27 financial year, the corporate tax rate for all entities will be 25 per cent; and Income Tax Assessment Act 1936, Income Tax Assessment Act 1997, Treasury Laws Amendment (Combating Multinational Tax Avoidance) Act 2017 and Treasury Laws Amendment (Enterprise Tax Plan) Act 2017 to make consequential amendments.

Progress

House of Representatives
Introduced and read a first time 11 May 2017
Second reading moved 11 May 2017
Second reading debate 11 Sep 2017
Second reading debate 13 Sep 2017
Second reading debate 14 Sep 2017

Documents and transcripts

Text of bill

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Explanatory memoranda

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Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Bills digest

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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 changes to the bill. For details about the outcome of proposed amendments please refer to either the 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.