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Wednesday, 30 May 2012
Page: 6455


Mr BRADBURY (LindsayAssistant Treasurer and Minister Assisting for Deregulation) (19:48): I present a supplementary explanatory memorandum to the bill and seek leave to move government amendments (1) to (7) as circulated together.

Leave granted.

Mr BRADBURY: I move:

(1) Clause 2, page 1 (lines 7 to 9), omit the clause, substitute:

2 Commencement

(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information

 

Column 1

Column 2

Provision(s)

Commencement

1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

2. Schedule 1, Part 1

The day this Act receives the Royal Assent.

3. Schedule 1, Part 2

The later of:

(a) immediately after the commencement of the provision(s) covered by table item 2; and

(b) 1 July 2015.

Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

(2) Schedule 1, page 3 (after line 2), after the Schedule heading, insert:

Part 1—Amendments applying from the 2012-13 year of income

(3) Schedule 1, page 3 (after line 11), after item 2, insert:

2A Paragraph 15(2)(b)

Omit "$732", substitute "$663".

(4) Schedule 1, page 3 (after line 22), after item 4, insert:

4A Paragraph 15(4)(d)

Omit "$732", substitute "$663".

(5) Schedule 1, page 3 (after line 28), after item 5, insert:

5A Paragraph 15(6)(b)

Omit "$732", substitute "$663".

(6) Schedule 1, item 8, page 4 (line 8), omit "this Schedule", substitute "this Part".

(7) Schedule 1, page 4 (after line 9), at the end of the Schedule, add:

Part 2—Amendments applying from the 2015-16 year of income

Income Tax Rates Act 1986

9 Paragraphs 15(2)(b), (4)(d) and (6)(b)

Omit "$663", substitute "$653".

10 Application provision

The amendments made by this Part apply to the 2015-16 year of income and later years of income.

Question agreed to.

Bill, as amended, agreed to.

Ordered that this bill be reported to the House with amendments.

Federation Chamber adjourned at 19:51