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Consideration of Legislation
- Parl No.
Cormann, Sen Mathias
- Question No.
Wong, Sen Penny
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- Start of Business
- PARLIAMENTARY OFFICE HOLDERS
- Paid Parental Leave and Other Legislation Amendment (Dad and Partner Pay and Other Measures) Bill 2012
- Passenger Movement Charge Amendment Bill 2012
- Tax Laws Amendment (2012 Measures No. 2) Bill 2012, Pay As You Go Withholding Non-compliance Tax Bill 2012
- Financial Framework Legislation Amendment Bill (No. 3) 2012
- MINISTERIAL ARRANGEMENTS
QUESTIONS WITHOUT NOTICE
(Ronaldson, Sen Michael, Carr, Sen Bob)
Vocational Education and Training
(Marshall, Sen Gavin, Evans, Sen Christopher)
(Birmingham, Sen Simon, Wong, Sen Penny)
(Milne, Sen Christine, Lundy, Sen Kate)
(Williams, Sen John, Wong, Sen Penny)
Agriculture, Fisheries and Forestry
(Moore, Sen Claire, Ludwig, Sen Joe)
(Nash, Sen Fiona, Wong, Sen Penny)
(Madigan, Sen John, Wong, Sen Penny)
- Carbon Pricing
- QUESTIONS WITHOUT NOTICE: ADDITIONAL ANSWERS
- QUESTIONS WITHOUT NOTICE: TAKE NOTE OF ANSWERS
- PERSONAL EXPLANATIONS
- MATTERS OF PUBLIC IMPORTANCE
- FIRST SPEECH
- AUDITOR-GENERAL'S REPORTS
- Legislative Instruments Amendment (Sunsetting Measures) Bill 2012
- Higher Education Support Amendment (Student Contribution Amounts and Other Measures) Bill 2012, Statute Stocktake (Appropriations) Bill (No. 1) 2012, Tax Laws Amendment (Investment Manager Regime) Bill 2012
- National Broadcasting Legislation Amendment Bill 2010
- QUESTIONS ON NOTICE
Wednesday, 27 June 2012
Senator WONG (South Australia—Minister for Finance and Deregulation) (18:56): I move government business notice of motion No. 2:
That the provisions of paragraphs (5) to (8) of standing order 111 not apply to the Tax laws Amendment (Managed Investment Trust Withholding Tax) Bill 2012, allowing it to be considered during this period of sittings.
I might take the opportunity, Senator Cormann, to briefly put on the record the reasons for the exemption from the cut-off.
Senator Cormann: Take 20 minutes.
Senator WONG: I won't take 10 or 20 minutes, I promise.
Senator Cormann: Feel free.
Senator WONG: I am sure you would want me to take 20 minutes, but I shall not do that. The government are moving to exempt the Tax Laws Amendment (Managed Investment Trust Withholding Tax) Bill 2012 from the cut-off. The first point about that is that the government made very clear in its budget the reason for this bill. It changes the tax regime for managed investment trusts to increase the trusts' final withholding tax from 7.5 per cent to 15 per cent on fund payments. The amendments apply from 1 July 2012. This is obviously the last occasion on which this bill can be passed in order to give effect to that decision. Whilst the cut-off is something that I know the Senate regards as important in terms of scrutiny of legislation, I note that given the fact that this was included as a budget decision, given that Senator Cormann has been issuing a multiplicity of press releases on this point and given that this is a reasonably simple proposition, I suggest that it is not supportable for the opposition to suggest that they have not had time to consider this legislation. I commend the motion to the Senate.