TAX LAWS AMENDMENT (2010 MEASURES NO. 4) BILL 2010

Order of the day read for the adjourned debate on the motion of the Parliamentary Secretary to the Prime Minister (Senator Lundy)—That this bill be now read a second time.

Debate resumed.

Question put and passed.

Bill read a second time.

The Senate resolved itself into committee for the consideration of the bill.

In the committee

Bill taken as a whole by leave.

Senator Cormann moved the following amendments together by leave:

 Clause 2, page 3 (table item 15), omit "Schedule 7", substitute "Schedules 7 and 8".

 Page 47 (after line 3), at the end of the bill, add:

Schedule 8—Providing tax receipts to individual taxpayers

Income Tax Assessment Act 1936

 1 After section 174

  Insert:

174A Taxation receipt to be provided with notice of assessment

  (1) A notice of assessment for an individual under section 174 for the financial year ending 30 June 2011 or any later financial year must be accompanied by a taxation receipt, setting out:

 (a) a break-down of how the amount of the assessment was spent on different functions in the financial year (calculated by applying the proportion of the Budget expenditure on each function to the amount of the assessment); and

 (b) the level of Australian Government net debt.

  (2) A taxation receipt for subsection (1) must, at a minimum, contain the information shown in the following table:

ItemInformation to be included in taxation receipt

1The name and tax file number of the taxpayer.

2The amount of the assessment.

3The level of Australian Government net debt at the end of the financial year and at the end of the previous financial year.

4The taxpayer's share of the Australian Government net debt for the financial year, to be calculated by dividing the Australian Government net debt by the number of individual taxpayers.

5How much of the taxation revenue raised under the assessment was expended for the welfare function, broken down into the following sub-functions:

(a) aged pension entitlements;

(b) disability pension entitlements;

(c) family benefit entitlements;

(d) unemployment and sickness benefit entitlements;

(e) other welfare benefit entitlements.

6How much of the taxation revenue raised under the assessment was expended for each of the following functions:

(a) health;

(b) education;

(c) defence;

(d) foreign affairs and economic aid;

(e) recreation and culture;

(f) housing and community services;

(g) industry assistance and fuel subsidies;

(h) public order;

(i) transport and communications;

(j) labour and industrial relations.

7How much of the taxation revenue raised under the assessment was expended in transfers to the states, territories and local government authorities.

8How much of the taxation revenue raised under the assessment was expended to service public debt interest.

9How much of the taxation revenue raised under the assessment was expended for other public services.

Note: The amounts specified for the purposes of table items 5 to 9 are to be calculated by reference to the nominal proportion of Budget expenditure constituted by each function.

Debate ensued.

Question—That the amendments be agreed to—put.

The committee divided—

AYES, 29

Senators—

Adams (Teller)

Back

Barnett

Bernardi

Birmingham

Brandis

Bushby

Cash

Colbeck

Coonan

Cormann

Fierravanti-Wells

Fifield

Fisher

Humphries

Johnston

Joyce

Kroger

Macdonald

Mason

Minchin

Nash

Parry

Payne

Ronaldson

Ryan

Scullion

Troeth

Trood

NOES, 31

Senators—

Bilyk

Bishop

Brown, Bob

Brown, Carol

Cameron

Collins

Crossin

Farrell

Feeney

Fielding

Forshaw

Furner

Hanson-Young

Hogg

Hutchins

Ludlam

Lundy

Marshall

McEwen (Teller)

McLucas

Milne

Moore

Polley

Pratt

Sherry

Siewert

Stephens

Sterle

Wong

Wortley

Xenophon

Question negatived.

Bill further debated and agreed to.

Bill to be reported without amendment.

The Acting Deputy President (Senator Barnett) resumed the chair and the Temporary Chair of Committees reported accordingly.

The Minister for Small Business (Senator Sherry) moved—That the report from the committee be adopted.

Reference to committee: Senator Xenophon moved the following amendment:

 At the end of the motion, add "and the amendments proposed by Senator Cormann on sheet 7010 be referred to the Economics References Committee for inquiry and report by 31 March 2011".

Debate ensued.

Question—That the amendment be agreed to—put and passed.

Main question, as amended, put and passed.

Senator Sherry moved—That this bill be now read a third time.

Question put and passed.

Bill read a third time.