Treasury Laws Amendment (2017 Measures No. 4) Bill 2017

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

Track (What's this?)

Permalink

Summary

Amends the: A New Tax System (Wine Equalisation Tax) Act 1999 to: introduce additional eligibility criteria for the wine equalisation tax (WET) producer rebate; provide that a purchaser of wine is only able to claim a WET credit for WET included in the purchase price of that wine if it makes a taxable dealing with the wine; reduce the WET producer rebate cap from $500 000 to $350 000; amend the timing of the application of the associated producers rule; and remove the earlier producer rebate rule; and Income Tax Assessment Act 1997 to provide asset roll-over relief for mandatory transfers within a superannuation fund in the transition to a MySuper product.

Progress

House of Representatives
Introduced and read a first time 22 Jun 2017
Second reading moved 22 Jun 2017
Second reading debate 16 Aug 2017
Second reading agreed to 16 Aug 2017
Third reading agreed to 16 Aug 2017
Senate
Introduced and read a first time 16 Aug 2017
Second reading moved 16 Aug 2017
Second reading debate 17 Aug 2017
Second reading agreed to 17 Aug 2017
Third reading agreed to 17 Aug 2017
Finally passed both Houses 17 Aug 2017
Assent
  • Act no: 94
  • Year: 2017
23 Aug 2017

Documents and transcripts

Text of bill

Word Format PDF Format HTML Format
Word Format PDF Format HTML Format

Explanatory memoranda

Word Format PDF Format HTML Format

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Bills digest

PDF Format HTML Format

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 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.