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Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.

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


Type
Government
Originating house
House of Representatives
Status
Act
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  
Second reading debate 12/08/15  
Second reading agreed to 12/08/15  
Third reading agreed to 12/08/15  
     
Senate
Introduced and read a first time 13/08/15  
Second reading moved 13/08/15  
Second reading debate 13/08/15  
Second reading agreed to 13/08/15  
Third reading agreed to 13/08/15  
     
Finally passed both Houses 13/08/15  
Assent 26/08/15 Act no.: 114 - Year: 2015
     

Text of bill

  • First reading

MS-Word PDF HTML
  • As passed by both Houses

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