Treasury Laws Amendment (2019 Measures No. 2) Bill 2019

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
46

Track (What's this?)

Permalink

Summary

Amends the: Income Tax Assessment Act 1997 to extend the concessional tax treatment for genuine redundancy and early retirement scheme payments made to individuals who are 65 years or older provided the dismissal or retirement occurs before they reach pension age; A New Tax System (Luxury Car Tax) Act 1999 to increase the refund amount that eligible primary producers and tourism operators can receive when luxury car tax is borne on the supply or import of an eligible vehicle; Competition and Consumer Act 2010 to: increase the size of the board of the Australian Energy Regulator from three to five members and make changes to the operation of the board; and create a requirement that consumer data rules include an obligation on accredited data recipients to delete consumer data right data in response to a valid request from a consumer; Superannuation (Unclaimed Money and Lost Members) Act 1999 to enable the Commissioner of Taxation to pay interest on amounts held by the commissioner that are proactively reunified with a person’s active superannuation account; and Superannuation (Unclaimed Money and Lost Members) Regulations 1999 to prescribe the rate of interest payable on inactive low balance accounts and amounts proactively reunified by the commissioner.

Progress

House of Representatives
Introduced and read a first time 18 Sep 2019
Second reading moved 18 Sep 2019
Second reading debate 16 Oct 2019
Second reading agreed to 16 Oct 2019
Third reading agreed to 16 Oct 2019
Senate
Introduced and read a first time 17 Oct 2019
Second reading moved 17 Oct 2019
Second reading debate 17 Oct 2019
Second reading agreed to 17 Oct 2019
Third reading agreed to 17 Oct 2019
Finally passed both Houses 17 Oct 2019
Assent
  • Act no: 94
  • Year: 2019
28 Oct 2019

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

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.