Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024

The majority voted against an amendment to the usual second reading motion (which is "that the bill be read a second time" - parliamentary jargon for agreeing with the main idea of the bill).

The amendment would have replaced the words of the usual second reading motion with those below, and so would have had the effect of rejecting the bill if it had been successful.

Amendment text

That all words after "That" be omitted with a view to substituting the following words:

"the House notes:

(1) that the former Government consistently delivered lower taxes for small business, families, and implemented more than a dozen measures to combat multinational tax avoidance;

(2) the Government voted eight times against delivering a bigger tax cut to small business in last year's instant asset write off;

(3) the Government's last multinational tax bill was so badly designed it taxed Australian companies;

(4) that since the election, Australians are paying 20 per cent more income tax and the Government has banked over $60 billion in bracket creep;

(5) that despite promising to only raise taxes on multinationals at the election, the Government has broken promises to raise taxes on superannuation, on unrealised capital gains, on franking credits, personal income, tax, and to end small business tax incentives; and

(6) that the Government's housing policy is failing to meet its supply targets and supporting forever renting, not home ownership".