Australian employee share scheme tax bill passed by the Senate with no amendments

The Tax Laws Amendment (2009 Budget Measures No. 2) Bill 2009, which implements the government’s employee share plan tax changes, was passed by the Senate with no amendments on 2 December 2009 (see HERE). 

Given that the Senate commenced consideration of the bill at 12.24 pm, and the next bill in line was considered at 12.26 pm, we assume that its deficiencies were not debated again, and possibly that Senators were keen to begin their summer break.

Progress of the bill through the Senate had been delayed by the extended debate on the carbon pollution reduction scheme legislation. 

The bill had previously been passed by the House of Representatives without amendment (see our November GuerdonNews® article HERE for a summary of the bill). 

Royal assent on the bill is expected this week, finally providing certainty in relation to laws announced by the government in May and operating with effect from 1 July 2009.

© Guerdon Associates 2024
read more Back to all articles