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   24   Treasury Laws Amendment (Making Sure Foreign Investors Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2018

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— And on the amendment moved thereto by Dr Leigh, viz.— 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:

(1)        the then Treasurer’s shock decision on 14 September 2017 to ban the build-to-rent sector, which had multi-billion dollar ramifications for the Australian property market;

(2)        the then Treasurer’s failure to reverse the decision, seeing significant damage to Australia’s build-to-rent sector before finally capitulating on 26 July last year;

(3)        that the same incompetent approach to policy-making saw snap rule changes affecting investors in student accommodation; and

(4)        that failure to address the Government’s mistakes in student accommodation could see more international students competing with Australians in the rental market.”—

Debate resumed.

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.

Document

Mr Taylor (Minister for Energy) presented a supplementary explanatory memorandum to the bill.

On the motion of Mr Taylor, by leave, Government amendments (1) and (2) were made together.

Bill, as amended, agreed to.

Consideration in detail concluded.

On the motion of Mr Taylor, by leave, the bill was read a third time.