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 5 NEW INTERNATIONAL TAX ARRANGEMENTS BILL 2003

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 Cox 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:

(1) notes that the international taxation measures contained in the 2003-2004 budget had an aggregate four year cost of $270 million;

 (a) the direct cost of measures, including those contained in this bill now total $465.5 million; and

(b) that two more tranches of amendments are scheduled to follow; and

(2) requires that the government provide a full reconciliation of the international taxation changes included in the 2003-2004 budget measure with measures in the previous international tax bill, this international tax bill and future international tax bills prior to the bill being passed by the Senate".

Debate continued.

Amendment negatived.

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

Leave granted for third reading to be moved forthwith.

On the motion of Mr Cameron (Parliamentary Secretary to the Treasurer), the Bill was read a third time.