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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 (Research and Development) Bill 2011


Previous citations:

Tax Laws Amendment (Research and Development) Bill 2010



Type
Government
Originating house
House of Representatives
Status
Act
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 30/09/10  
Second reading moved 30/09/10  
Second reading debate 22/11/10  
Second reading agreed to 22/11/10  
Third reading agreed to 22/11/10  
     
Senate
Introduced and read a first time 23/11/10  
Second reading moved 23/11/10  
Second reading debate 22/08/11  
Second reading agreed to 22/08/11  
Committee of the Whole debate 22/08/11 Amendment details: 39 Government agreed to
Committee of the Whole debate 23/08/11 Amendment details: 2 Government agreed to
Third reading agreed to 23/08/11  
     
House of Representatives
Consideration of Senate message 24/08/11 Details: House agreed to Senate amendments
     
Text of bill as passed both Houses 24/08/11  
Assent 08/09/11 Act no.: 93 - Year: 2011
     

Text of bill

  • First reading

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  • As passed by both Houses

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Explanatory memoranda

  • Explanatory memorandum

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  • Supplementary explanatory memorandum

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Second reading speeches


Proposed amendments

Senate
  • Australian Greens [sheet 6193]
MILNE, Sen Christine

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  • Government [sheet CJ260]

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  • Opposition [sheet 7011]
COLBECK, Sen Richard

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Schedules of amendments

  • Schedule of the amendments made by the Senate

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Bills Digest



Notes