Treasury Laws Amendment (2024 Tax and Other Measures No. 1) 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). This means the usual motion will remain unchanged. The amendment was introduced by Petrie MP Luke Howarth (Liberal).

Amendment text

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

“whilst not declining to give the bill a second reading, the House notes:

(1) the Government is failing to support meaningful small business tax reform, including the Opposition’s plan to make the Instant Asset Write-Off permanent;

(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 has burdened Australia’s 72,000 tax practitioners with unnecessary new regulation and costly red tape;

(4) the Government has broken promises to raise taxes on superannuation, on unrealised capital gains, on franking credits, personal income tax, and end small business tax incentives; and

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