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Division

The majority voted in favour of a [motion](https://www.openaustralia.org.au/debates/?id=2024-05-15.22.1): > *That [the amendments](https://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id:legislation/billhome/display.w3p;query=Id%3A%22legislation%2Fsched%2Fr7081_sched_c705c48f-3e61-496e-820f-8a5cd6ee0d47%22;rec=0) be disagreed to.* In other words, they voted against accepting the amendments agreed to in the Senate, which would have extended provisions to medium business entities and lifted the annual threshold of assets that can be instantly written off under the bill from $20,000 to $30,000. ### Amendment text > *(1) Schedule 1, heading, page 4 (line 1), omit “ $20,000 ”, substitute “ $30,000 ”.* > > *(2) Schedule 1, heading, page 4 (line 2), omit “ small business entities ”, substitute “ small and medium business entities ”.* > > *(3) Schedule 1, page 4 (after line 9), 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;* >>>> >

House of Representatives, 2024-05-15. affirmative: ayes 75, noes 18.

Question

The majority voted in favour of a [motion](https://www.openaustralia.org.au/debates/?id=2024-05-15.22.1): > *That [the amendments](https://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id:legislation/billhome/display.w3p;query=Id%3A%22legislation%2Fsched%2Fr7081_sched_c705c48f-3e61-496e-820f-8a5cd6ee0d47%22;rec=0) be disagreed to.* In other words, they voted against accepting the amendments agreed to in the Senate, which would have extended provisions to medium business entities and lifted the annual threshold of assets that can be instantly written off under the bill from $20,000 to $30,000. ### Amendment text > *(1) Schedule 1, heading, page 4 (line 1), omit “ $20,000 ”, substitute “ $30,000 ”.* > > *(2) Schedule 1, heading, page 4 (line 2), omit “ small business entities ”, substitute “ small and medium business entities ”.* > > *(3) Schedule 1, page 4 (after line 9), 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;* >>>> >

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Related bills

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