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Bills of previous Parliaments

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Tax Laws Amendment (Small Business Restructure Roll-over) Bill 2016


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the Income Tax Assessment Act 1997 to enable small businesses to defer the recognition of gains or losses that may arise from the transfer of capital gains tax assets, trading stock, revenue assets and depreciating assets as part of a restructure of their business.

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 04/02/16  
Second reading moved 04/02/16  
Second reading debate 22/02/16  
Second reading agreed to 22/02/16  
Third reading agreed to 22/02/16  
     
Senate
Introduced and read a first time 23/02/16  
Second reading moved 23/02/16  
Second reading debate 25/02/16  
Second reading debate 29/02/16  
Second reading agreed to 29/02/16  
Third reading agreed to 29/02/16  
     
Finally passed both Houses 29/02/16  
Assent 08/03/16 Act no: 18 - Year: 2016
     

Text of bill

  • First reading

MS-Word PDF HTML
  • As passed by both Houses

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

Bills Digest



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