James McGrath (Queensland, Liberal National Party, Assistant Minister to the Prime Minister) Share this | Hansard source

I give notice that, on the next day of sitting, I shall move:

That the provisions of paragraphs 5 to 8 of standing order 111 not apply to various bills as set out in the list circulated in the chamber, allowing them to be considered during this period of sittings.

I table statements of reasons justifying the need for these bills to be considered during these sittings and seek leave to have the statements incorporated in Hansard.

Leave granted.

The state ment s read as follows—

STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2017 SPRING SITTINGS

Defence Legislation Amendment (Instrument Making) Bill 2017

Purpose of the Bill

To make amendments to the regulation making powers in the Defence Act 1903 to ensure the regulation making powers relating to a number of sunsetting instruments can continue.

Reasons for Urgency

Defence has a number of instruments that need to be remade due to a sunsetting deadline in April 2018. These include the Defence (Areas Control) Regulations 1989, the Defence (Inquiry) Regulations 1985 and the Defence (Public Areas) By-Laws 1987.

The timings of the remaking of the sunsetting instruments require the Defence Act amendments to be introduced and passed in the 2017 Spring sittings.

(Circulated by authority of the Minister for Defence Personnel)

STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2017 WINTER SITTINGS

INDUSTRIAL CHEMICALS BILL

INDUSTRIAL CHEMICALS (CONSEQUENTIAL AMENDMENTS AND TRANSITIONAL PROVISIONS) BILL

Industrial Chemicals Charges (General) Bill

Industrial Chemicals Charges (Customs) Bill

Industrial Chemicals Charges (Excise) Bill

INDUSTRIAL CHEMICALS (NOTIFICATION AND ASSESSMENT) AMENDMENT BILL

Purpose of the Bills

The proposed bills amend the existing Industrial Chemicals (Notification and Assessment) Act 1989; create new legislation to implement the reformed industrial chemicals scheme and create new legislation relating to charges on the registration of importers and manufacturers of certain industrial chemicals.

The bills will provide for significant reform of the regulation of industrial chemicals in Australia to:

Reasons for Urgency

The Government has made commitments about the timing of the implementation of the reform of the regulation of industrial chemicals and the election commitment including:

The bills require passage by the end of 2017 to enable these timing commitments to be met.

(Circulated by authority of the Assistant Minister for Health)

STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2017 SPRING SITTINGS

TREASURY LAW AMENDMENT (2017 MEASURES NO. 6) BILL

Purpose of the Bill

The purpose of the Treasury Laws Amendment (2017 Measures No. 6) Bill 2017 is to:

Reasons for Urgency

The 2017 Budget measure to remove the double taxation of digital currency has a commencement date of 1 July 2017. Passage of the legislation is urgent to give effect to the measure and provide certainty for the fintech sector.

In the 2017 Budget, the Government committed to implementing reforms to the credit card market as outlined in the Government's response to the Senate Inquiry into the credit card market (consultation paper released in May 2016). These reforms will improve consumer outcomes in the credit card market, assist consumers to better manage their credit card debts and foster competition in the credit card market. The Government has committed to legislating these reforms by the end of 2017 in order for consumers to benefit from these reforms as soon as possible and to give credit card providers a period of time in which to prepare for the changes.

Passage of the legislation is also urgent to give the CERI the certainty it needs to fundraise successfully.

(Circulated by authority of the Treasurer)

STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2017 Spring sittings

TREASURY LAWS AMENDMENT (HOUSING TAX INTEGRITY) BILL 2017 AND FOREIGN ACQUISITIONS AND TAKEOVERS FEES IMPOSITION AMENDMENT (VACANCY FEES) BILL 2017

Purpose of the Bill

This key Budget measure implements an integrity measure to address concerns that some taxpayers are claiming expenses without correctly apportioning costs, or have claimed travel costs that were for private purposes.

The tax system currently creates opportunities for plant and equipment to be depreciated by multiple owners of a property well in excess of its actual value. Excessive depreciation is enabled because the tax system allows asset values to be easily overstated or reset. This measure seeks to correct this by reflecting the value of existing plant and equipment as part of the capital expenditure incurred by the investor to purchase the residential property. The measure also seeks to preserve depreciation deductions where a direct outlay is made by a property investor for plant and equipment, or where the situation closely reflects such a scenario (such as where an investor purchases a new build or a substantially renovated home).

Reasons for Urgency

The measures implement part of the 2017 Budget Reducing Pressure on Affordable Housing reforms and need to be introduced and passed in the Spring 2017 sittings to ensure the effective implementation of the Government's plan and to provide certainty to affected stakeholders.

(Circulated by authority of the Treasurer)