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senate vote 2024-06-25#11
Edited by
mackay staff
on
2024-08-04 08:41:09
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Title
Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023 - Consideration of House of Representatives Message - Do not insist on amendments- Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023 - Consideration of House of Representatives Message - Pass the bill
Description
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- The majority voted in favour of a [motion](https://www.openaustralia.org.au/senate/?id=2024-06-25.154.1):
- > *That the Senate does not further insist on its amendments to which the House of Representatives has insisted on disagreeing.*
- In other words, the majority of senators voted in favour of passing the bill even without the amendments they had previously requested.
- ### What does this bill do?
- According to the [bill homepage](https://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id:legislation/billhome/r7081), the bill:
- > *Amends the:*
- >
- > * *Income Tax (Transitional Provisions) Act 1997 to: increase the instant asset write-off threshold from $1,000 to $20,000 for the 2023-24 financial year; and provide small and medium businesses with access to a bonus tax deduction for the 2023-24 financial year relating to electrification and more efficient energy use;*
- >
- > * *Income Tax Assessment Act 1997, Taxation Administration Act 1953 and A New Tax System (Australian Business Number) Act 1999 to facilitate certain community charities achieving deductible gift recipient status;*
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- > * *Income Tax Assessment Act 1997 to: include two new entities on the list of deductible gift recipients and extend the listing for two other entities; extend the Global Infrastructure Hub’s income tax exemption for an additional year; broadly align existing tax requirements with a new accounting standard for insurance contracts; and amend the rules for non-arm’s length expenses for superannuation entities;*
- >
- > * *Corporations Act 2001 to reinstate the Australian Financial Complaint Authority’s jurisdiction to hear certain complaints relating to superannuation; and*
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> * *Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 to make contingent amendments.*- > * *Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 to make contingent amendments.*
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senate vote 2024-06-25#11
Edited by
mackay staff
on
2024-08-04 08:40:48
|
Title
Bills — Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023; Consideration of House of Representatives Message- Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023 - Consideration of House of Representatives Message - Do not insist on amendments
Description
<p class="speaker">Murray Watt</p><p>I move:</p>-
- The majority voted in favour of a [motion](https://www.openaustralia.org.au/senate/?id=2024-06-25.154.1):
- > *That the Senate does not further insist on its amendments to which the House of Representatives has insisted on disagreeing.*
- In other words, the majority of senators voted in favour of passing the bill even without the amendments they had previously requested.
- ### What does this bill do?
- According to the [bill homepage](https://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id:legislation/billhome/r7081), the bill:
- > *Amends the:*
- >
- > * *Income Tax (Transitional Provisions) Act 1997 to: increase the instant asset write-off threshold from $1,000 to $20,000 for the 2023-24 financial year; and provide small and medium businesses with access to a bonus tax deduction for the 2023-24 financial year relating to electrification and more efficient energy use;*
- >
- > * *Income Tax Assessment Act 1997, Taxation Administration Act 1953 and A New Tax System (Australian Business Number) Act 1999 to facilitate certain community charities achieving deductible gift recipient status;*
- >
- > * *Income Tax Assessment Act 1997 to: include two new entities on the list of deductible gift recipients and extend the listing for two other entities; extend the Global Infrastructure Hub’s income tax exemption for an additional year; broadly align existing tax requirements with a new accounting standard for insurance contracts; and amend the rules for non-arm’s length expenses for superannuation entities;*
- >
- > * *Corporations Act 2001 to reinstate the Australian Financial Complaint Authority’s jurisdiction to hear certain complaints relating to superannuation; and*
- >
- > * *Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 to make contingent amendments.*
<p class="italic">That the Senate does not further insist on its amendments to which the House of Representatives has insisted on disagreeing.</p> <p class="speaker">Andrew McLachlan</p><p>Pursuant to the order agreed to earlier today, I am required to put the question immediately. The question is that the Senate does not further insist on its amendments to which the House has insisted on disagreeing.</p><p></p><p></p> -
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