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Bills of previous Parliaments

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 (2009 Measures No. 6) Bill 2010


Previous citations:

Tax Laws Amendment (2009 Measures No. 6) Bill 2009



Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the: Income Tax Assessment Act 1997 to: remove the capital gains tax trust cloning exception; provide a limited capital gains tax roll-over for the transfer of certain assets between trusts with the same beneficiaries; allow the roll-over of capital losses and transfer of revenue losses when complying superannuation funds merge; and update the list of deductible gift recipients; Income Tax Assessment Act 1997, Tax Laws Amendment (2006 Measures No. 2) Act 2006 and Superannuation Legislation Amendment (Simplification) Act 2007 to clarify the circumstances in which income derived by life insurance companies in respect of immediate annuity business qualifies as non-assessable non-exempt income; Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997 to provide that the Income Recovery Subsidy for the North Western Queensland floods is not subject to income tax; and Excise Act 1901 to provide that the blending of spirits constitutes excise manufacture.

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 25/11/09  
Second reading moved 25/11/09  
Second reading debate 10/02/10  
Second reading agreed to 10/02/10  
Third reading agreed to 10/02/10  
     
Senate
Introduced and read a first time 22/02/10  
Second reading moved 22/02/10  
Second reading debate 11/03/10  
Second reading agreed to 11/03/10  
Third reading agreed to 11/03/10  
     
Text of bill as passed both Houses 11/03/10  
Assent 24/03/10 Act no.: 19 - Year: 2010
     

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
  • Referred to Committee (26/11/2009): Senate Economics Legislation Committee
  • Committee report (25/02/2010)
  • Access information for House of Representatives and Senate committees
  • An electronic version of this Act is available in ComLaw ( www.comlaw.gov.au )