Treasury Laws Amendment (Tax Incentives and Integrity) Bill 2024

Mr JONES (Whitlam—Assistant Treasurer and Minister for Financial Services) (13:00): I present a supplementary explanatory memorandum to the bill. I seek leave to move government amendments (1) and (2) together. Leave granted.

Mr JONES: I move government amendments (1) and (2) on sheet UG105 as circulated together: (1) Clause 2, page 2 (at the end of the table), add: 4. Schedule 4 The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent. (2) Page 6 (after line 25), at the end of the Bill, add: Schedule 4 — $20,000 instant asset write-off for small business entities Income Tax (Transitional Provisions) Act 1997 1 Section 328-180 (heading) Omit "30 June 2024", substitute "30 June 2025". 2 Subsection 328-180(1) (paragraph (b) of the definition of increased access year ) Omit "30 June 2024", substitute "30 June 2025". 3 Paragraph 328-180(4)(d) Omit "30 June 2024" (wherever occurring), substitute "30 June 2025". 4 Subparagraphs 328-180(5)(e)(ii) and (6)(e)(ii) Omit "30 June 2024", substitute "30 June 2025".