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The majority voted against [amendments](https://www.openaustralia.org.au/senate/?gid=2024-03-27.205.1) introduced by ACT senator [David Pocock](https://theyvoteforyou.org.au/people/senate/act/david_pocock) (Independent), which means they failed. ### Amendment text > *(1) Schedule 1, page 4 (line 1) to page 5 (line 4), omit the Schedule, substitute:* > > *Schedule 1 — $20,000 instant asset write-off for small business entities* > > *Income Tax Assessment Act 1997* > > *1 Section 328-170 (paragraph (b) of the paragraph beginning "This Subdivision")* > >> *Repeal the paragraph.* > > *2 Subsection 328-175(1)* > >> *Omit "(10)", substitute "(9)".* > > *3 Subsection 328-175(10)* > >> *Repeal the subsection (not including the notes).* > > *4 Subsection 328-175(10) (note 3)* > >> *Omit all words after "of this", substitute "Subdivision in relation to income years between 12 May 2015 and 30 June 2023".* > > *5 Section 328-180 (heading)* > >> *Omit "$1,000", substitute "$20,000".* > > *6 Paragraph 328-180(1)(b)* > >> *Omit "$1,000", substitute "$20,000".* > > *7 Paragraph 328-180(2)(a)* > >> *Omit "$1,000", substitute "$20,000".* > > *8 Paragraph 328-180(3)(a)* > >> *Omit "$1,000", substitute "$20,000".* > > *9 Subsection 328-205(4) (example)* > >> *Repeal the example, substitute:* > >>> *Example: When Hannah's van was allocated to her general small business pool for the 2023-24 income year, she estimated that it would be used 50% for her florist business. Due to increasing business, Hannah estimates the van's use to be 70% for the 2023-24 year, and 90% for the 2024-25 year. She makes an adjustment under section 328-225 for both those years.* >>> >>> *Hannah sells the van for $20,000 at the start of the 2026-27 income year. She must now average the business use estimates for the van for the year it was allocated to the pool and the next 3 years to work out the taxable purpose proportion of its termination value. The average is worked out as follows:* >>> >>>> *The taxable pur

Senate, 2024-03-27. negative: ayes 16, noes 21.

Question

The majority voted against [amendments](https://www.openaustralia.org.au/senate/?gid=2024-03-27.205.1) introduced by ACT senator [David Pocock](https://theyvoteforyou.org.au/people/senate/act/david_pocock) (Independent), which means they failed. ### Amendment text > *(1) Schedule 1, page 4 (line 1) to page 5 (line 4), omit the Schedule, substitute:* > > *Schedule 1 — $20,000 instant asset write-off for small business entities* > > *Income Tax Assessment Act 1997* > > *1 Section 328-170 (paragraph (b) of the paragraph beginning "This Subdivision")* > >> *Repeal the paragraph.* > > *2 Subsection 328-175(1)* > >> *Omit "(10)", substitute "(9)".* > > *3 Subsection 328-175(10)* > >> *Repeal the subsection (not including the notes).* > > *4 Subsection 328-175(10) (note 3)* > >> *Omit all words after "of this", substitute "Subdivision in relation to income years between 12 May 2015 and 30 June 2023".* > > *5 Section 328-180 (heading)* > >> *Omit "$1,000", substitute "$20,000".* > > *6 Paragraph 328-180(1)(b)* > >> *Omit "$1,000", substitute "$20,000".* > > *7 Paragraph 328-180(2)(a)* > >> *Omit "$1,000", substitute "$20,000".* > > *8 Paragraph 328-180(3)(a)* > >> *Omit "$1,000", substitute "$20,000".* > > *9 Subsection 328-205(4) (example)* > >> *Repeal the example, substitute:* > >>> *Example: When Hannah's van was allocated to her general small business pool for the 2023-24 income year, she estimated that it would be used 50% for her florist business. Due to increasing business, Hannah estimates the van's use to be 70% for the 2023-24 year, and 90% for the 2024-25 year. She makes an adjustment under section 328-225 for both those years.* >>> >>> *Hannah sells the van for $20,000 at the start of the 2026-27 income year. She must now average the business use estimates for the van for the year it was allocated to the pool and the next 3 years to work out the taxable purpose proportion of its termination value. The average is worked out as follows:* >>> >>>> *The taxable pur

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