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The order of the day having been read for the resumption of the debate on the question—That the Bill be now read a second time—

Debate resumed by Mr K. J. Thomson who moved, as an amendment—That all words after "That" be omitted with a view to substituting the following words: "whilst not declining to give the bill a second reading, the House condemns the Government for:

(1) massively increasing the complexity of the tax system for small business;

(2) massively increasing the compliance burden for small business;

(3) breaching the Prime Minister's 1996 pledge to halve small business red tape; and

(4) wasting many millions of dollars on advertising and promoting the new business tax arrangements to try and cover the problems listed above".

Debate continued.

Amendment negatived.

Question—That the Bill be now read a second time—put and passed—Bill read a second time.

Consideration in detail

Bill, by leave, taken as a whole.


Mr Hockey (Minister for Financial Services and Regulation) presented a supplementary explanatory memorandum to the Bill.

On the motion of Mr Hockey, by leave, Government amendments (1) to (36) were made together, after debate.

Bill, as amended, agreed to.

Consideration in detail concluded.

On the motion of Mr Hockey, by leave, the Bill was read a third time.