Tax and Superannuation Laws Amendment (Employee Share Schemes) Bill 2015

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
44

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Summary

Amends the: Income Tax Assessment Act 1936, Income Tax Assessment Act 1997, Income Tax (Transitional Provisions) Act 1997 and Taxation Administration Act 1953 in relation to the taxation of employee share schemes by: amending the taxing point for rights for employees of all corporate tax entities; and providing an additional tax concession for employees of certain small start-up companies; and Income Tax Assessment Act 1997 to: enable the Commissioner of Taxation to approve a method for determining the market value of an asset or non-cash benefit for income tax purposes; and make technical amendments.

Progress

House of Representatives
Introduced and read a first time 25 Mar 2015
Second reading moved 25 Mar 2015
Second reading debate 27 May 2015
Second reading agreed to 27 May 2015
Third reading agreed to 27 May 2015
Senate
Introduced and read a first time 15 Jun 2015
Second reading moved 15 Jun 2015
Second reading debate 25 Jun 2015
Second reading agreed to 25 Jun 2015
Third reading agreed to 25 Jun 2015
Finally passed both Houses 25 Jun 2015
Assent
  • Act no: 105
  • Year: 2015
30 Jun 2015

Documents and transcripts

Text of bill

Explanatory memoranda

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Bills digest

Notes

Helpful information

Text of bill

  • First reading: Text of the bill as introduced into the Parliament
  • Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
  • As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

  • Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
  • Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
  • Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changes to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.

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