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Text of bill | Explanatory memoranda | Second reading speeches | Proposed amendments | Schedules of amendments | Bills Digest

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 (Research and Development) Bill 2010


Type
Government
Originating house
House of Representatives
Status
Not Proceeding
Portfolio
Treasury

Summary

Introduced with the Income Tax Rates Amendment (Research and Development) Bill 2010, the bill amends the: Income Tax Assessment Act 1997 to replace the existing research and development (R&D) tax concession with a 45 per cent refundable R&D tax offset for eligible entities with a turnover of less than $20 million, and a non-refundable 40 per cent R&D tax offset for all other eligible entities; Industry Research and Development Act 1986 to set out the role of Innovation Australia in relation to the administration of the R&D tax offset; and Income Tax Assessment Act 1936, Income Tax Assessment Act 1997, Income Tax (Transitional Provisions) Act 1997 and Taxation Administration Act 1953 to make consequential amendments. Also contains application, savings and transitional provisions.

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 13/05/10  
Second reading moved 13/05/10  
Second reading debate 17/06/10  
Second reading agreed to 17/06/10  
Third reading agreed to 17/06/10  
     
Senate
Introduced and read a first time 21/06/10  
Second reading moved 21/06/10  
Lapsed at end of Parliament 28/09/10  
     

Text of bill

  • First reading

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Explanatory memoranda

  • Explanatory memorandum

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  • Correction to explanatory memorandum

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  • Supplementary explanatory memorandum

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  • Replacement explanatory memorandum

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Second reading speeches


Proposed amendments

Senate
  • Family First Party [sheet 6147]
FIELDING, Sen Steve

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  • Government [sheet CJ245]

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Schedules of amendments

Bills Digest



Notes
  • Referred to Committee (13/05/2010): Senate Economics Legislation Committee
  • Committee report (15/06/2010)
  • Access information for House of Representatives and Senate committees