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Tax Laws Amendment (Interest on Non-Resident Trust Distributions) (Temporary Budget Repair Levy) Bill 2014


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Part of a package of 15 bills to implement a three-year progressive budget repair levy, the bill amends the Income Tax Assessment Act 1936 to increase by two per cent the rate of tax on the amount of interest payable by an Australian resident taxpayer on distributions from non-resident trust estates.

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 14/05/14  
Second reading moved 14/05/14  
Second reading debate 27/05/14  
Second reading debate 28/05/14  
Second reading agreed to 28/05/14  
Third reading agreed to 28/05/14  
     
Senate
Introduced and read a first time 16/06/14  
Second reading moved 16/06/14  
Second reading debate 16/06/14  
Second reading agreed to 16/06/14  
Committee of the Whole debate 17/06/14  
Third reading agreed to 17/06/14  
     
Finally passed both Houses 17/06/14  
Assent 25/06/14 Act no.: 47 - Year: 2014
     

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
  • Referred to Committee (15/05/2014): Senate Economics Legislation Committee; Committee report (16/06/2014)
  • Access information for House of Representatives and Senate committees
  • An electronic version of this Act is available in ComLaw ( www.comlaw.gov.au )