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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 (2012 Measures No. 1) Bill 2012


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the: Income Tax Assessment Act 1997 to: ensure that expenses incurred in gaining or producing a rebatable benefit are not deductible; provide that complying superannuation entities cannot account for gains and losses on certain assets on revenue account using the trading stock exception; and exempt from income tax ex-gratia payments to New Zealand non-protected special category visa holders for the floods that occurred in New South Wales and Queensland in early 2012; Income Tax Assessment Act 1936 to commence the phase out of the dependent spouse tax offset by restricting eligibility for the offset to taxpayers with a dependent spouse born before 1 July 1952; and Income Tax Assessment Act 1997, Minerals Resource Rent Tax Act 2012, and Taxation Administration Act 1953 to make technical amendments.

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 21/03/12  
Second reading moved 21/03/12  
Second reading debate 09/05/12  
Second reading agreed to 09/05/12  
Third reading agreed to 09/05/12  
     
Senate
Introduced and read a first time 10/05/12  
Second reading moved 10/05/12  
Second reading debate 18/06/12  
Second reading agreed to 18/06/12  
Third reading agreed to 18/06/12  
     
Text of bill as passed both Houses 18/06/12  
Assent 27/06/12 Act no.: 71 - Year: 2012
     

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