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Bills of the current Parliament

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Tax Laws Amendment (Small Business Measures No. 3) Bill 2015


Type
Government
Originating house
House of Representatives
Status
Before Reps
Portfolio
Treasury

Summary

Amends the: Income Tax Assessment Act 1997 to: provide a 5 per cent tax offset (capped at $1000 per income year) to individuals who run small businesses with an aggregate annual turnover of less than $2 million, or who have a share of a small business’ income included in their assessable income; and enable small businesses and individuals to immediately deduct certain costs incurred when starting up a business; and Fringe Benefits Tax Assessment Act 1986 to extend the fringe benefits tax exemption that applies to employers that provide employees with work-related portable electronic devices.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 24/06/15  
Second reading moved 24/06/15  
     

Text of bill

  • First reading

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

Bills Digest



Notes