Treasury Laws Amendment (Build to Rent) Bill 2024

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Before Senate
Parliament no
47

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Summary

This bill is the result of the Senate dividing the Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024 (original bill) into two bills. This page shows the procedural history of the original bill up to the time it was divided, and the title and description of the bill as divided by the Senate (see sheet 2683 of amendments to the original bill). For copies of the explanatory memorandum and amendments circulated to the original bill, see the homepage of the original bill. This bill amends the Income Tax Assessment Act 1936, Income Tax Assessment Act 1997 and Taxation Administration Act 1953 to provide incentives for investors to support the construction of new build to rent developments by increasing the capital works deduction rate to 4 per cent per year and reducing the final withholding tax rate on eligible fund payments from eligible managed investment trust investments to 15 per cent.

Progress

House of Representatives
Introduced and read a first time 05 Jun 2024
Second reading moved 05 Jun 2024
Second reading debate 25 Jun 2024
Referred to Federation Chamber 25 Jun 2024
Second reading debate 25 Jun 2024
Second reading debate 26 Jun 2024
Reported from Federation Chamber 27 Jun 2024
Second reading agreed to 27 Jun 2024
Consideration in detail debate 27 Jun 2024
Third reading agreed to 27 Jun 2024
Senate
Introduced and read a first time
  • : Bill divided by the Senate
02 Jul 2024

Documents and transcripts

Text of bill

Explanatory memoranda

No documents at present

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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