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

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

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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

Bill 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
Bill progress
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
Bill progress
House of Representatives
Consideration of Senate message
  • Details: House disagreed to Senate amendments
15 Jun 2020
Bill progress
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
Bill progress
House of Representatives
Consideration of Senate message
  • Details: House insisted on disagreeing to the amendments insisted on by the Senate
16 Jun 2020
Bill progress
Senate
Consideration of House of Reps message
  • Details: Senate did not again insist on its amendments
17 Jun 2020
Bill progress
Finally passed both Houses 17 Jun 2020
Assent
  • Act no: 64
  • Year: 2020
22 Jun 2020

Documents and transcripts

Text of bill

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Word Format PDF Format HTML Format

Explanatory memoranda

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Proposed amendments

House of representatives

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Senate

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Schedules of amendments

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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.