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Tax Laws Amendment (2008 Measures No. 2) Bill 2008


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the: Income Tax Assessment Act 1997 in relation to: amounts misappropriated by an employee or agent; the capital gains tax market value substitution rule for interests in certain companies and trusts; exempting from income tax the Endeavour Executive Award and research fellowships under the Awards program; early completion bonuses for apprentices; the list of deductible gift recipients; deductions for capital expenditure for the establishment of trees in carbon sink forests; tax-free grants under the Tobacco Growers Adjustment Assistance Programme 2006 to certain tobacco growers; and income tax exemptions for rent assistance paid to Austudy recipients and Carer Adjustment Payment recipients; Superannuation Guarantee (Administration) Act 1992 in relation to extending the superannuation guarantee late payment offset; Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 in relation to tax-free superannuation lump sums paid to persons with a terminal medical condition; Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997 in relation to extensions of the beneficiary tax offset to the Equine Workers Hardship Wage Supplement Payment; and Income Tax Assessment Act 1936 in relation to the farm management deposit scheme.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 20/03/08  
Second reading moved 20/03/08  
Second reading debate 13/05/08  
Second reading agreed to 14/05/08  
Consideration in detail debate 14/05/08 Amendment details: 6 government agreed to
Third reading agreed to 14/05/08  
     
Senate
Introduced and read a first time 16/06/08  
Second reading moved 16/06/08  
Second reading debate 17/06/08  
Second reading agreed to 17/06/08  
Committee of the Whole debate 17/06/08 Amendment details: 3 Government agreed to
Third reading agreed to 17/06/08  
     
House of Representatives
Consideration of Senate message 23/06/08 Details: House agreed to Senate amendments
     
Assent 24/06/08 Act no.: 38 - Year: 2008
     

Text of bill

  • Third reading

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  • First reading

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Explanatory memoranda

  • Supplementary explanatory memorandum

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  • Explanatory memorandum

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  • Revised explanatory memorandum

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  • Supplementary explanatory memorandum

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Second reading speeches


Proposed amendments

House of Representatives
  • Government [sheet PM288]

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Senate
  • Government [sheet QG484]

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Schedules of amendments

  • Schedule of the amendments made by the Senate

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Bills Digest



Notes
  • An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)