Bankruptcy Amendment (Exceptional Circumstances Exit Package) Bill 2011
Information about the Inquiry
On 07 July 2011 the Senate referred the Bankruptcy Amendment (Exceptional Circumstances Exit Package) Bill 2011 for inquiry and report.
The Exceptional Circumstances Exit Package (EC Exit Package) is a one-off taxable payment of up to $150 000 for farmers who choose to leave their long–term family farm to enable them to relocate and re-establish and retrain for alternative employment. The EC Exit Package was introduced in 2007 and is due to end on 30 June 2012.
The Bill will amend the Bankruptcy Regulations 1996 to exempt grants made on or after 1 July 2010 under the EC Exit Package from bankruptcy proceedings, so long as the final orders have not been made.
Submissions should be received by 19 August 2011. The reporting date is 21 September 2011.
The Committee is seeking written submissions from interested individuals and organisations preferably in electronic form submitted online or sent by email to economics.sen@aph.gov.au as an attached Adobe PDF or MS Word format document. The email must include full postal address and contact details.
Alternatively, written submissions may be sent to:
Department of the Senate
PO Box 6100
Parliament House
Canberra ACT 2600
Australia
Notes to help you prepare your submission are available from the website at https://www.aph.gov.au/senate/committee/wit_sub/index.htm. Alternatively, the Committee Secretariat will be able to help you with your inquiries and can be contacted on telephone +61 2 6277 3540 or facsimile +61 2 6277 5719 or by email to economics.sen@aph.gov.au.
Inquiries from hearing and speech impaired people should be directed to Parliament House TTY number 02 6277 7799. Adobe also provides tools at http://access.adobe.com/ for the blind and visually impaired to access PDF documents. If you require any special arrangements to enable you to participate in the Committee's inquiry, please contact the Committee Secretariat.
Once the Committee accepts your submission, it becomes a confidential Committee document and is protected by Parliamentary Privilege. You must not release your submission without the Committee's permission. If you do, it will not be protected by Parliamentary Privilege. At some stage during the inquiry, the Committee normally makes submissions public and places them on its website. Please indicate if you want your submission to be kept confidential.
For further information, contact: Department of the Senate
PO Box 6100
Parliament House
Canberra ACT 2600
Australia