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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 (2010 Measures No. 2) Bill 2010


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends: the Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997 to: prevent shareholders of private companies accessing tax-free dividends from the provision of company assets for less than market value; and make consequential amendments; the Income Tax Assessment Act 1936, Income Tax Assessment Act 1997 and Taxation Administration Act 1953 to extend existing arrangements for tax file number withholding to cover closely held trusts; the Income Tax Assessment Act 1997 to: provide that the HECS-HELP benefit is exempt from income tax; update the list of deductible gift recipients; and provide that the Global Carbon Capture and Storage Institute Limited is exempt from income tax for a four-year period; and 108 Acts to repeal certain unlimited periods for amending taxpayers’ assessments.

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 17/03/10  
Second reading moved 17/03/10  
Second reading debate 13/05/10  
Second reading agreed to 13/05/10  
Third reading agreed to 13/05/10  
     
Senate
Introduced and read a first time 13/05/10  
Second reading moved 13/05/10  
Second reading debate 17/06/10  
Second reading agreed to 17/06/10  
Committee of the Whole debate 17/06/10 Amendment details: 2 Government agreed to
Third reading agreed to 17/06/10  
     
House of Representatives
Consideration of Senate message 17/06/10 Details: House agreed to Senate amendments
     
Text of bill as passed both Houses 17/06/10  
Assent 28/06/10 Act no.: 75 of 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
  • Supplementary explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

Senate
  • Government [sheet BU259]

MS-Word PDF HTML

Schedules of amendments

  • Schedule of the amendments made by the Senate

MS-Word PDF HTML

Bills Digest



Notes
  • Referred to Committee (18/03/2010): Senate Economics Legislation Committee
  • Committee report (12/05/2010)
  • Access information for House of Representatives and Senate committees
  • An electronic version of this Act is available in ComLaw ( www.comlaw.gov.au )