Treasury Laws Amendment (Junior Minerals Exploration Incentive) Bill 2017

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

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Summary

Amends the: Income Tax Assessment Act 1997 to replace the Exploration Development Incentive with the Junior Minerals Exploration Incentive, which will enable junior exploration companies undertaking greenfields minerals exploration to distribute their tax losses as a refundable tax offset to investors who have purchased newly issued shares; and Income Tax Assessment Act 1936, Income Tax Assessment Act 1997, Taxation Administration Act 1953 and Tax and Superannuation Laws Amendment (2014 Measures No. 7) Act 2015 to make consequential amendments.

Progress

House of Representatives
Introduced and read a first time 19 Oct 2017
Second reading moved 19 Oct 2017
Second reading debate 13 Feb 2018
Second reading agreed to 13 Feb 2018
Third reading agreed to 13 Feb 2018
Senate
Introduced and read a first time 15 Feb 2018
Second reading moved 15 Feb 2018
Second reading debate 19 Mar 2018
Second reading agreed to 19 Mar 2018
Committee of the Whole debate
  • Amendment details: 1 Government and 2 Opposition agreed to
  • Requests details: 1 Government agreed to
19 Mar 2018
Bill agreed to, subject to requests 19 Mar 2018
House of Representatives
Consideration of Senate message
  • Details: House made Senate requested amendment
26 Mar 2018
Senate
Third reading agreed to 26 Mar 2018
House of Representatives
Consideration of Senate message
  • Details: House agreed to Senate amendments
27 Mar 2018
Finally passed both Houses 27 Mar 2018
Assent
  • Act no: 15
  • Year: 2018
28 Mar 2018

Documents and transcripts

Text of bill

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Explanatory memoranda

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Proposed amendments

Senate

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Schedules of amendments

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Bills digest

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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.