Bill Shorten (Maribyrnong, Australian Labor Party, Assistant Treasurer) Share this | Link to this | Hansard source

I present a supplementary explanatory memorandum to the Tax Laws Amendment (Temporary Flood Reconstruction Levy) Bill 2011 and to the Income Tax Rates Amendment (Temporary Flood Reconstruction Levy) Bill 2011. I ask leave of the House to move government amendments (1) to (12) together.

Leave granted.

I move government amendments (1) to (12):

(1)    Clause 1, page 1 (line 6), after “Flood”, insert “and Cyclone”.

(2)    Clause 2, page 2 (table item 2), after “Flood”, insert “and Cyclone”.

(3)    Clause 2, page 2 (table item 3), after “Flood”, insert “and Cyclone”.

(4)    Schedule 1, item 2, page 4 (line 9), after “flood”, insert “and cyclone”.

(5)    Schedule 1, item 3, page 4 (line 15), after “flood”, insert “and cyclone”.

(6)    Schedule 1, item 3, page 4 (line 16), after “flood”, insert “and cyclone”.

(7)    Schedule 1, item 3, page 4 (line 17), after “flood”, insert “and cyclone”.

(8)    Schedule 1, item 3, page 5 (line 3), after “flood”, insert “and cyclone”.

(9)    Schedule 1, item 3, page 5 (line 4), after “flood”, insert “and cyclone”.

(10)  Schedule 1, item 3, page 5 (line 17), after “flood”, insert “and cyclone”.

(11)  Schedule 1, item 3, page 5 (line 21), after “flood”, insert “and cyclone”.

(12)  Schedule 1, item 3, page 5 (line 23), after “flood”, insert “and cyclone”.

The amendments change the name of the levy to the temporary flood and cyclone reconstruction levy. This change reflects that the levy will contribute to rebuilding across multiple disasters in multiple states. Members will be well aware of the devastating impact of Cyclone Yasi in particular. I submit this to the House.

Question agreed to.

Bill, as amended, agreed to.