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Bills of the current Parliament

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Treasury Laws Amendment (Increasing and Extending the Instant Asset Write-Off) Bill 2019


Previous citations:

Treasury Laws Amendment (Increasing the Instant Asset Write-Off for Small Business Entities) Bill 2019



Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 to: extend by 12 months to 30 June 2020 the period during which small business entities can access expanded accelerated depreciation rules (instant asset write-off); and increase the threshold below which amounts can be immediately deducted under the rules from $20 000 to $25 000 from 29 January 2019 until 30 June 2020.

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 13/02/19  
Second reading moved 13/02/19  
Second reading debate 19/02/19  
Second reading debate 02/04/19  
Second reading agreed to 02/04/19  
Third reading agreed to 02/04/19  
     
Senate
Introduced and read a first time 03/04/19  
Second reading moved 03/04/19  
Second reading debate 03/04/19  
Committee of the Whole debate 03/04/19 Amendment details: 18 Government agreed to
Third reading agreed to 03/04/19  
     
House of Representatives
Consideration of Senate message 04/04/19 Details: House agreed to Senate amendments
     
Finally passed both Houses 04/04/19  
Assent 06/04/19 Act no: 51 - Year: 2019
     

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

MS-Word PDF HTML

Second reading speeches


Proposed amendments

Senate
  • Government [sheet QQ104]

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Schedules of amendments

  • Schedule of the amendments made by the Senate

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Bills Digest



Notes
  • An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)