Division
The majority voted against [amendments](https://www.openaustralia.org.au/debate/?id=2023-11-27.41.1) introduced by Barker MP [Tony Pasin](https://theyvoteforyou.org.au/people/representatives/barker/tony_pasin) (Liberal), which means they failed. ### What do the amendments do? Mr Pasin [explained that](https://www.openaustralia.org.au/debate/?id=2023-11-27.41.1): > *The coalition amendments to this bill give effect to an extension of the instant asset write-off to 26,500 medium businesses and extend the value of assets eligible to $30,000.* ### Amendment text > *(1) Schedule 1, heading, page 4 (lines 1 and 2), omit "$20,000 instant asset write-off for small business entities", substitute "$30,000 instant asset write-off for small and medium business entities".* > > *(2) Schedule 1, page 4 (after line 2), after item 2, insert:* > >> *2A After subsection 328-180(3)* >> >> *Insert:* >> >> *Extension to medium business entities* >> >> *(3A) If you are an entity covered by subsection (3B) for an income year, then for the purposes of doing any of the following:* >> >>> *(a) deducting under subsection 328-180(1) of the Income Tax Assessment Act 1997 a proportion of the adjustable value of a depreciating asset for an income year in circumstances where paragraph (4)(d) of this section applies to you and the asset;* >>> >>> *(b) deducting under subsection 328-180(2) of that Act a proportion of an amount included in the second element of the cost for an asset in circumstances where paragraph (5)(e) of this section applies to you and the amount;* >>> >>> *(c) applying subsection 328-180(3) of that Act to you and an asset in circumstances where:* >>> >>>> *(i) paragraph (5)(e) of this section applies to you and an amount included in the second element of the asset's cost; and* >>>> >>>> *(ii) paragraph (6)(e) of this section applies to you for a deduction for the asset for an income year;* >>> >>> *Subdivision 328-D of the Income Tax Assessment Act 1997 applies to you for an inco
House of Representatives, 2023-11-27. negative: ayes 64, noes 73.
Question
The majority voted against [amendments](https://www.openaustralia.org.au/debate/?id=2023-11-27.41.1) introduced by Barker MP [Tony Pasin](https://theyvoteforyou.org.au/people/representatives/barker/tony_pasin) (Liberal), which means they failed. ### What do the amendments do? Mr Pasin [explained that](https://www.openaustralia.org.au/debate/?id=2023-11-27.41.1): > *The coalition amendments to this bill give effect to an extension of the instant asset write-off to 26,500 medium businesses and extend the value of assets eligible to $30,000.* ### Amendment text > *(1) Schedule 1, heading, page 4 (lines 1 and 2), omit "$20,000 instant asset write-off for small business entities", substitute "$30,000 instant asset write-off for small and medium business entities".* > > *(2) Schedule 1, page 4 (after line 2), after item 2, insert:* > >> *2A After subsection 328-180(3)* >> >> *Insert:* >> >> *Extension to medium business entities* >> >> *(3A) If you are an entity covered by subsection (3B) for an income year, then for the purposes of doing any of the following:* >> >>> *(a) deducting under subsection 328-180(1) of the Income Tax Assessment Act 1997 a proportion of the adjustable value of a depreciating asset for an income year in circumstances where paragraph (4)(d) of this section applies to you and the asset;* >>> >>> *(b) deducting under subsection 328-180(2) of that Act a proportion of an amount included in the second element of the cost for an asset in circumstances where paragraph (5)(e) of this section applies to you and the amount;* >>> >>> *(c) applying subsection 328-180(3) of that Act to you and an asset in circumstances where:* >>> >>>> *(i) paragraph (5)(e) of this section applies to you and an amount included in the second element of the asset's cost; and* >>>> >>>> *(ii) paragraph (6)(e) of this section applies to you for a deduction for the asset for an income year;* >>> >>> *Subdivision 328-D of the Income Tax Assessment Act 1997 applies to you for an inco
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Related bills
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