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NEW BUSINESS TAX SYSTEM (IMPUTATION) BILL 2002

Mr Slipper (Parliamentary Secretary to the Minister for Finance and Administration) presented a Bill for an Act to amend the taxation law to implement a simplified imputation system, and for related purposes.

Bill read a first time.

Mr Slipper moved—That the Bill be now read a second time.

Paper

Mr Slipper presented an explanatory memorandum to the following Bills:

New Business Tax System (Imputation) 2002.

New Business Tax System (Over-franking Tax) 2002.

New Business Tax System (Franking Deficit Tax) 2002.

Debate adjourned (Mrs Crosio), and the resumption of the debate made an order of the day for the next sitting.