Summary

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The majority voted in favour of a motion to agree with the main idea of the bill. In parliamentary jargon, they voted to read the bill for a second time. This means they can now consider the bill in greater detail.

What is the main idea of the bill?

According to the bills digest:

The purpose of the Treasury Laws Amendment (2017 Enterprise Incentives No. 1) Bill 2017 (the Bill) is to amend the Income Tax Assessment Act 1997 (the ITAA 1997) and the Income Tax Assessment Act 1936 (the ITAA 1936) to:

  • improve access to previous year tax losses for companies and listed widely held trusts by introducing a ‘similar business test’ that will allow those that have changed ownership but conduct substantially the same business after that change of ownership, to access those tax losses (which the application of the existing ‘same business test’ would prevent) and
  • provide taxpayers with the choice to self-assess the effective life of certain intangible depreciating assets (such as patents, in-house software, registered designs and certain copyrights and licences) that they start to hold on or after 1 July 2016, rather than using the existing specified statutory effective life.

Votes Passed by a small majority

Nobody rebelled against their party.

Party Votes
Adam Bandt Melbourne Australian Greens No
Australian Labor Party (99% turnout) 0 Yes 68 No
Anthony Albanese Grayndler No
Anne Aly Cowan No
Sharon Bird Cunningham No
Chris Bowen McMahon No
Gai Brodtmann Canberra No
Tony Burke Watson No
Linda Burney Barton No
Mark Butler Port Adelaide No
Terri Butler Griffith No
Anthony Byrne Holt No
Jim Chalmers Rankin No
Nick Champion Wakefield No
Lisa Chesters Bendigo No
Jason Clare Blaxland No
Sharon Claydon Newcastle No
Julie Collins Franklin No
Pat Conroy Shortland No
Michael Danby Melbourne Ports No
Milton Dick Oxley No
Mark Dreyfus Isaacs No
Justine Elliot Richmond No
Kate Ellis Adelaide No
David Feeney Batman No
Joel Fitzgibbon Hunter No
Mike Freelander Macarthur No
Steve Georganas Hindmarsh No
Andrew Giles Scullin No
Luke Gosling Solomon No
Tim Hammond Perth No
Ross Hart Bass No
Chris Hayes Fowler No
Julian Hill Bruce No
Emma Husar Lindsay No
Ed Husic Chifley No
Stephen Jones Whitlam No
Justine Keay Braddon No
Mike Kelly Eden-Monaro No
Matt Keogh Burt No
Peter Khalil Wills No
Catherine King Ballarat No
Madeleine King Brand No
Susan Lamb Longman No
Andrew Leigh Fenner No
Jenny Macklin Jagajaga No
Richard Marles Corio No
Emma McBride Dobell No
Brian Mitchell Lyons No
Rob Mitchell McEwen No
Shayne Neumann Blair No
Brendan O'Connor Gorton No
Clare O'Neil Hotham No
Cathy O'Toole Herbert No
Julie Owens Parramatta No
Graham Perrett Moreton No
Tanya Plibersek Sydney No
Amanda Rishworth Kingston No
Michelle Rowland Greenway No
Joanne Ryan Lalor No
Bill Shorten Maribyrnong No
Warren Snowdon Lingiari No
Anne Stanley Werriwa No
Meryl Swanson Paterson No
Susan Templeman Macquarie No
Matt Thistlethwaite Kingsford Smith No
Maria Vamvakinou Calwell No
Tim Watts Gellibrand No
Josh Wilson Fremantle No
Tony Zappia Makin No
Wayne Swan Lilley Absent
Mark Coulton Parkes Deputy Speaker Yes
Cathy McGowan Indi Independent Yes
Andrew Wilkie Denison Independent Absent
Bob Katter Kennedy Katter's Australian Party Absent
Liberal Party (98% turnout) 58 Yes 0 No
Tony Abbott Warringah Yes
John Alexander Bennelong Yes
Karen Andrews McPherson Yes
Kevin Andrews Menzies Yes
Julia Banks Chisholm Yes
Julie Bishop Curtin Yes
Russell Broadbent McMillan Yes
Scott Buchholz Wright Yes
Steven Ciobo Moncrieff Yes
David Coleman Banks Yes
Chris Crewther Dunkley Yes
Peter Dutton Dickson Yes
Warren Entsch Leichhardt Yes
Trevor Evans Brisbane Yes
Jason Falinski Mackellar Yes
Paul Fletcher Bradfield Yes
Nicolle Flint Boothby Yes
Josh Frydenberg Kooyong Yes
Ian Goodenough Moore Yes
Andrew Hastie Canning Yes
Alex Hawke Mitchell Yes
Sarah Henderson Corangamite Yes
Luke Howarth Petrie Yes
Greg Hunt Flinders Yes
Steve Irons Swan Yes
Michael Keenan Stirling Yes
Craig Kelly Hughes Yes
Andrew Laming Bowman Yes
Craig Laundy Reid Yes
Julian Leeser Berowra Yes
Sussan Ley Farrer Yes
Nola Marino Forrest Yes
John McVeigh Groom Yes
Scott Morrison Cook Yes
Ben Morton Tangney Yes
Ted O'Brien Fairfax Yes
Tony Pasin Barker Yes
Christian Porter Pearce Yes
Jane Prentice Ryan Yes
Melissa Price Durack Yes
Christopher Pyne Sturt Yes
Rowan Ramsey Grey Yes
Stuart Robert Fadden Yes
Ann Sudmalis Gilmore Yes
Michael Sukkar Deakin Yes
Angus Taylor Hume Yes
Dan Tehan Wannon Yes
Alan Tudge Aston Yes
Malcolm Turnbull Wentworth Yes
Bert Van Manen Forde Yes
Ross Vasta Bonner Yes
Andrew Wallace Fisher Yes
Lucy Wicks Robertson Yes
Rick Wilson O'Connor Yes
Tim Wilson Goldstein Yes
Jason Wood La Trobe Yes
Ken Wyatt Hasluck Yes
Trent Zimmerman North Sydney Yes
Kelly O'Dwyer Higgins Absent
National Party (100% turnout) 15 Yes 0 No
Andrew Broad Mallee Yes
Darren Chester Gippsland Yes
George Christensen Dawson Yes
Damian Drum Murray Yes
Andrew Gee Calare Yes
David Gillespie Lyne Yes
Luke Hartsuyker Cowper Yes
Kevin Hogan Page Yes
Barnaby Joyce New England Yes
Michelle Landry Capricornia Yes
David Littleproud Maranoa Yes
Michael McCormack Riverina Yes
Llew O'Brien Wide Bay Yes
Ken O'Dowd Flynn Yes
Keith Pitt Hinkler Yes
Rebekha Sharkie Mayo Nick Xenophon Team Yes
Tony Smith Casey Speaker Absent
Totals (97% turnout) 77 Yes – 69 No