Tax and Superannuation Laws Amendment (2015 Measures No. 1) Bill 2015

Summary

Amends the: Income Tax Assessment Act 1936, Income Tax Assessment Act 1997, Medicare Levy Act 1986 and Tax and Superannuation Laws Amendment (2014 Measures No. 1) Act 2014 to abolish the dependent spouse tax offset; Income Tax Assessment Act 1936 in relation to the offshore banking unit regime; Income Tax Assessment Act 1997 to exempt the Global Infrastructure Hub Ltd from income tax liability; Income Tax Assessment Act 1997 and Tax and Superannuation Laws Amendment (2013 Measures No. 2) Act 2013 to update the list of deductible gift recipients; 16 Acts to make technical and miscellaneous amendments; and Income Tax Assessment Act 1936, Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 to enable foreign entities to qualify for concessions under the investment manager regime either by investing directly in Australia or investing through an Australian fund manager. Also repeals the First Home Saver Account Providers Supervisory Levy Imposition Act 2008, First Home Saver Accounts Act 2008 and Income Tax (First Home Saver Accounts Misuse Tax) Act 2008 and makes consequential amendments to 18 Acts to abolish the first home saver accounts scheme.

Progress

House of Representatives
Introduced and read a first time	27 May 2015
Second reading moved	27 May 2015
Second reading debate	16 Jun 2015
Second reading agreed to	16 Jun 2015
Consideration in detail debate Amendment details: 13 Government agreed to	16 Jun 2015
Third reading agreed to	16 Jun 2015

Senate
Introduced and read a first time	17 Jun 2015
Second reading moved	17 Jun 2015
Second reading debate	17 Jun 2015
Second reading agreed to	17 Jun 2015
Committee of the Whole debate	17 Jun 2015
Third reading agreed to	17 Jun 2015


Finally passed both Houses	17 Jun 2015
Assent Act no.: 70 Year: 2015	25 Jun 2015

Documents and transcripts

Text of bill

First reading

Third reading

As passed by both Houses

Explanatory memoranda

Explanatory memorandum

Revised explanatory memorandum

Supplementary explanatory memorandum

Transcript of speeches

Proposed amendments

House of representatives

Government [sheet GT157]

Senate

Australian Greens [sheet 7714]
LUDLAM, Sen Scott

Schedules of amendments

No documents at present

Bills digest

Bills Digest

Notes

Referred to Committee (27/05/2015): Senate Economics Legislation Committee; Committee report (15/06/2015)
An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)

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.