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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. 3) Bill 2010


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the: Superannuation (Government Co-contribution for Low Income Earners) Act 2003 to: freeze indexation of the co-contribution income threshold for the 2010-11 and 2011-12 financial years; and maintain the current matching rate and maximum co-contribution payable on an individual’s eligible superannuation contributions; Income Tax Assessment Act 1997 to modify the thin capitalisation rules in relation to the application of accounting standards for authorised deposit-taking institutions; Taxation Administration Act 1953 to enable certain officers to declare that a specified entity is not subject to Commonwealth tax law in relation to a specified transaction; Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997 to provide that unexpended income of a special disability trust is taxed at a certain rate; and Taxation Administration Act 1953 and Income Tax Assessment Act 1997 in relation to managed investment trusts and withholding tax.

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 26/05/10  
Second reading moved 26/05/10  
Second reading debate 22/06/10  
Second reading debate 23/06/10  
Second reading agreed to 23/06/10  
Consideration in detail debate 23/06/10 Amendment details: 20 government amendments agreed to
Third reading agreed to 23/06/10  
     
Senate
Introduced and read a first time 24/06/10  
Second reading moved 24/06/10  
Second reading debate 24/06/10  
Second reading agreed to 24/06/10  
Third reading agreed to 24/06/10  
     
Text of bill as passed both Houses 24/06/10  
Assent 29/06/10 Act no.: 90 of 2010
     

Text of bill

  • First reading

MS-Word PDF HTML
  • Third 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
  • Revised explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

House of Representatives
  • Government [sheet CG242]

MS-Word PDF HTML

Schedules of amendments

Bills Digest



Notes
  • Referred to Committee (26/05/2010): Senate Economics Legislation Committee
  • Committee report (01/06/2010)
  • Access information for House of Representatives and Senate committees
  • An electronic version of this Act is available in ComLaw ( www.comlaw.gov.au )