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Thursday, 11 May 2000
Page: 16343

Mr SLIPPER (Parliamentary Secretary to the Minister for Finance and Administration) (5:26 PM) —I move:

That the bill be now read a second time.

This bill amends the income tax law to allow a beneficiary rebate in respect of the payment of the Community Development Employment Projects Scheme participant supplement. The supplement will also be covered to the pay-as-you-earn and pay-as-you-go withholding systems. The amendments will apply to payments made on or after 11 November 1999 and to assessments for the 1999-2000 year of income and all later years of income. These measures will allow the CDEP supplement to receive the same tax treatment as New Start and Youth Allowance supplements for recipients involved in labour market programs.

To assist with the implementation of the goods and services tax, the government is providing direct assistance certificates to small and medium enterprises and to community sector bodies when they register for the GST. This bill amends the Income Tax Assessment Act 1997 to exempt from income tax any income attributable to GST direct assistance certificates.

Full details of the measures in this bill are contained in the explanatory memorandum.

I commend the bill to the House and present the explanatory memorandum.

Debate (on motion by Mr Griffin) adjourned.