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04 Jul 08 2008 Measures No 1 defeated in Senate

On 26 June 2008, Tax Laws Amendment (2008 Measures No 1) Bill 2008 was refused a third reading in the Senate. Accordingly, it was not passed and has been defeated. The background to the refusal is as follows.

On 24 June 2008, during its consideration of the Bill, the Senate agreed to a proposal relating to the omission of all schedules to the Bill other than the schedule containing amendments regarding deductibility of contributions to political parties. One of the omitted schedules contained amendments regarding deductibility for expenditure on carbon sink forests. These latter amendments had earlier been inserted in Tax Laws Amendment (2008 Measures No 2) Bill 2008 and passed by the Senate. The Bill is now law, having received Royal Assent on 24 June 2008. After the passage of Tax Laws Amendment (2008 Measures No 2) Bill 2008, certain Senators developed reservations about the way in which the changes regarding deductibility for expenditure on carbon sink forests might operate, and sought to insert amendments in Tax Laws Amendment (2008 Measures No 1) Bill 2008 that would have had the effect of repealing the provisions in Tax Laws Amendment (2008 Measures No 2) Act 2008. Although the amendments to the Bill proposed by these Senators were not agreed to, ultimately, a majority of Senators refused to give Tax Laws Amendment (2008 Measures No 1) Bill 2008 a third reading, and it was defeated.

If the Government now wishes to pass its changes regarding deductibility of contributions to political parties, it will either have to resubmit the Bill, or insert the provisions in a new Bill for reintroduction into the House of Representatives.

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