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 6 TAX LAWS AMENDMENT (2004 MEASURES NO. 1) BILL 2004

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 notes that the amendments dealing with distributions to certain entities will act as safeguards against certain abuses of trusts by individuals, the effect of these measures falls short of the Treasurer's commitment to ensure that the outcome of the Review of Business Taxation was revenue neutral".

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.