Chris Bowen (Prospect, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

I move:

That the amendments be agreed to.

The government agrees to the amendments made to the Tax Laws Amendment (2008 Measures No. 2) Bill 2008 by the Senate. These amendments add new schedules 12 and 13 to the bill. The new schedules are identical to schedules 3 and 4 which were removed from Tax Laws Amendment (2008 Measures No. 3) Bill 2008, as the opposition advised the government that it would be referring other measures in that bill to the Senate Standing Committee on Economics for inquiry. The amendments are necessary to ensure that these measures, which are of benefit to taxpayers, are passed before the end of the income year in order to remove doubt for taxpayers. Schedule 12 exempts from income tax the rent assistance paid to Austudy recipients, and schedule 13 exempts carer adjustment payments. Unless these amendments receive royal assent before 1 July 2008, payments made in the current income year will be included in the assessable income of recipients. Full details of the amendments are contained in the supplementary explanatory memorandum.

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