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Bills of the current Parliament

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 (2014 Measures No. 1) Bill 2014


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the: Income Tax Assessment Act 1997 to: enable individuals to consolidate multiple farm management deposits (FMD); and increase the taxable non-primary production income threshold; Banking Act 1959 to exclude an FMD from becoming unclaimed moneys; Income Tax (Transitional Provisions) Act 1997 to retrospectively clarify the tax treatment of FMDs that became unclaimed money; A New Tax System (Goods and Services Tax) Act 1999, Income Tax Assessment Act 1936 and Taxation Administration Act 1953 to: ensure that overpaid goods and services tax is only refundable in certain circumstances; and make consequential amendments; and Taxation Administration Act 1953 to: enable merits review of certain commissioner’s decisions; and validate certain past objections and reviews.

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 27/03/14  
Second reading moved 27/03/14  
Second reading debate 14/05/14  
Second reading agreed to 14/05/14  
Third reading agreed to 14/05/14  
     
Senate
Introduced and read a first time 14/05/14  
Second reading moved 14/05/14  
Second reading debate 15/05/14  
Second reading agreed to 15/05/14  
Third reading agreed to 15/05/14  
     
Finally passed both Houses 15/05/14  
Assent 30/05/14 Act no.: 34 - Year: 2014
     

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