Treasury Laws Amendment (2019 Measures No. 3) Bill 2019

Summary

Amends: the Income Tax Assessment Act 1936 to provide that the tax concessions available to minors for income from a testamentary trust apply only in respect of income generated from assets of the deceased estate transferred to the testamentary trust (or the proceeds of the disposal or investment of those assets); the Corporations Act 2001 to defer the transitional timeframes for existing providers to comply with the education and training standard requiring completion of an approved degree or equivalent qualification and the passing of an approved exam to 1 January 2026 and 1 January 2022, respectively; and 30 Acts to make minor and technical amendments to laws relating to taxation, superannuation, corporations and credit.

Progress

House of Representatives
Introduced and read a first time	05 Dec 2019
Second reading moved	05 Dec 2019
Second reading debate	10 Feb 2020
Second reading debate	11 Feb 2020
Second reading agreed to	11 Feb 2020
Consideration in detail debate	11 Feb 2020
Third reading agreed to	11 Feb 2020

Senate
Introduced and read a first time	12 Feb 2020
Second reading moved	12 Feb 2020
Second reading debate	12 Jun 2020
Second reading agreed to	12 Jun 2020
Committee of the Whole debate Amendment details: 2 Centre Alliance agreed to	12 Jun 2020
Third reading agreed to	12 Jun 2020

House of Representatives
Consideration of Senate message Details: House disagreed to Senate amendments	15 Jun 2020

Senate
Consideration of House of Reps message	15 Jun 2020
Consideration of House of Reps message Details: Senate insisted on its amendments	16 Jun 2020

House of Representatives
Consideration of Senate message Details: House insisted on disagreeing to the amendments insisted on by the Senate	16 Jun 2020

Senate
Consideration of House of Reps message Details: Senate did not again insist on its amendments	17 Jun 2020


Finally passed both Houses	17 Jun 2020
Assent Act no: 64 Year: 2020	22 Jun 2020

Documents and transcripts

Text of bill

First reading

As passed by both Houses

Explanatory memoranda

Explanatory memorandum

Transcript of speeches

Proposed amendments

House of representatives

Non-Government
JONES, Stephen, MP

Senate

Australian Greens [sheet 8970]
HANSON-YOUNG, Sen Sarah

Centre Alliance [sheet 8968]
PATRICK, Sen Rex

Opposition [sheet 8891]
MCALLISTER, Sen Jenny

Schedules of amendments

Schedule of the amendments made by the Senate to which the House of Representatives has disagreed

Schedule of the amendments made by the Senate

Notes

Considered by scrutiny committee (05/02/2020): Senate Standing Committee for the Scrutiny of Bills; Scrutiny Digest 1 of 2020
An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)

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.