Bill
Farm Household Support Amendment Bill 2019
passed, as at 2019-08-07. Agriculture portfolio.
- Sponsor
- Not recorded
- Portfolio
- Agriculture
Recorded stages
- introduced — 2019-07-04
- second reading — 2019-07-04
- second reading — 2019-07-29
- second reading — 2019-07-29
- third reading — 2019-07-29
- introduced — 2019-07-30
- second reading — 2019-07-30
- second reading — 2019-07-30
- second reading — 2019-07-30
- third reading — 2019-07-30
- passed — 2019-07-30
- royal assent — 2019-08-07
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2019-07-04.
This bill would keep the farm assets value limit for the Farm Household Allowance at $5.0 million from 1 July 2019.
It would also change how allowable deductions are treated, so they can only be claimed against the same type of income they relate to, such as on-farm or off-farm income.
The $5.0 million limit would be applied retrospectively to claims made from 1 July 2019 until the amendments start, and CPI indexation of the limit would be removed.
- Maintains the temporary farm assets value limit at $5.0 million from 1 July 2019.
- Removes CPI indexation of the farm assets value limit.
- Ensures allowable deductions are offset against the type of income they relate to.
- Applies the $5.0 million limit retrospectively to claims from 1 July 2019 until the amendments commence.
Farmers and their partners who receive or claim the Farm Household Allowance.
Sources
em
billhome
frl act