Division
The majority voted in favour of [amendments](https://www.openaustralia.org.au/senate/?gid=2024-03-27.203.1) introduced by Victorian Senator [Jane Hume](https://theyvoteforyou.org.au/people/senate/victoria/jane_hume) (Liberal), which means they will now be included in the bill. The amendments related to extending provisions to medium business entities and increasing the asset cost threshold. ### 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;* >>>>> >>>>> *Subdivision 328-D of the Income Tax Assessment Act 1997 applies to you for an income year and the asset as if you were a small business entity for the income year.* >>> >>> *(3B) An entity is covered by this su
Senate, 2024-03-27. affirmative: ayes 38, noes 17.
Question
The majority voted in favour of [amendments](https://www.openaustralia.org.au/senate/?gid=2024-03-27.203.1) introduced by Victorian Senator [Jane Hume](https://theyvoteforyou.org.au/people/senate/victoria/jane_hume) (Liberal), which means they will now be included in the bill. The amendments related to extending provisions to medium business entities and increasing the asset cost threshold. ### 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;* >>>>> >>>>> *Subdivision 328-D of the Income Tax Assessment Act 1997 applies to you for an income year and the asset as if you were a small business entity for the income year.* >>> >>> *(3B) An entity is covered by this su
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