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Treasury Laws Amendment (Support for Small Business and Charities and Other Measures)

Current status

This bill became law on Jun 28th, 2024.

Policy area

Budget, tax & economy

What does this bill do?

Small and medium businesses with turnover under $50 million can claim an extra 20 per cent tax deduction for eligible electrification and energy-saving upgrades, capped at $20,000 of bonus deductions.

Why was it introduced?

Small businesses faced upfront costs for electrification, some charities lacked deductible gift recipientA charity or fund that can receive tax-deductible donations, which makes giving to it more attractive to donors. access, Global Infrastructure Hub’s tax exemption was due to expire, and insurers needed tax rules updated for AASB 17The accounting standard insurers now use for insurance contracts, which the bill ties into tax reporting so the tax rules better match audited accounts.. The billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. gives a bonus tax deductionAn extra deduction on top of the normal tax write-off, so eligible businesses can deduct more than the actual spending amount for tax purposes., creates and extends deductible gift recipientA charity or fund that can receive tax-deductible donations, which makes giving to it more attractive to donors. status, continues the hub’s exemption, and aligns insurer tax reporting with the new accounting standard.

Broader context

In the 2023-24 Budget, the government bundled several practical fixes into one package: temporary tax help for small and medium businesses facing the upfront cost of electrification and energy-saving upgrades, new or extended deductible gift recipientA charity or fund that can receive tax-deductible donations, which makes giving to it more attractive to donors. access for selected charities and community foundations, a one-year extension of Global Infrastructure Hub LtdA named organisation whose income tax exemption is extended for another year under this bill.’s tax exemption, and tax rule changes to match insurers’ move to AASB 17The accounting standard insurers now use for insurance contracts, which the bill ties into tax reporting so the tax rules better match audited accounts.. The billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. introduced in September 2023 carried those measures through a lengthy cross-chamber negotiation before Parliament passed it in June 2024 and Royal AssentThe final step that turns a passed bill into an Act of Parliament. turned them into law.

Key criticism

The main criticism was that the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers.’s small-business tax measures were too modest and short-lived, especially the $20,000 instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. and the limited energy incentive, so many firms would get too little relief. That case was raised most strongly by the Coalition and echoed in narrower form by some crossbenchMembers of Parliament who are not in the government or the main opposition, including independents and minor parties. supporters, who backed the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. overall but wanted higher caps or longer timeframes.

Who supported it?

Stephen Jones MP introduced this bill. In the recorded Senate second-reading vote, support came from Greens, Jacqui Lambie Network, One Nation, UAP, some crossbenchMembers of Parliament who are not in the government or the main opposition, including independents and minor parties. members; opposition came from Labor, Liberal Party, Nationals, some crossbenchMembers of Parliament who are not in the government or the main opposition, including independents and minor parties. members.

Introduced in House 13 Sept 2023
Passed House 27 Nov 2023
Passed Senate 27 Mar 2024
Became law 28 June 2024

Did it become law?

Yes

Became law 28 June 2024

Final passage

No counted final vote

1 recorded vote on the bill was found earlier in passage, but the final chamber agreement was not a counted division.

Passage speed

289 days

From introduction to the latest recorded parliamentary step

Official record

View on APH

Parliament of Australia bill page

Meaning

What does this bill do?

  1. Small and medium businesses with turnover under $50 million can claim an extra 20 per cent tax deduction for eligible electrification and energy-saving upgrades, capped at $20,000 of bonus deductions.

  2. Australia creates a new deductible gift recipientA charity or fund that can receive tax-deductible donations, which makes giving to it more attractive to donors. pathway for certain community foundations, with ministerial guidelines, ATOThe government agency that administers tax law and oversees whether organisations meet the rules for tax concessions and deductions. oversight, penalties, and limits on some transfers between related charity vehicles.

  3. Donations to Justice Reform Initiative Limited and Transparency International Australia become tax deductible, and the tax-deductible status of Victorian Pride Centre Ltd and the Australian Sports Foundation Charitable Fund is extended.

  4. Global Infrastructure Hub LtdA named organisation whose income tax exemption is extended for another year under this bill. keeps its income tax exemption for another year, so government and other contributions it receives up to 30 June 2024 stay tax free.

  5. General insurers can work out tax more closely from the new AASB 17The accounting standard insurers now use for insurance contracts, which the bill ties into tax reporting so the tax rules better match audited accounts. accounting standard, cutting compliance costs and keeping tax reporting better aligned with audited accounts.

Show source excerpts
  1. Small and medium businesses will have access to a 20 per cent bonus deduction for the cost of eligible depreciating assets and improvements to depreciating assets that support electrification or more efficient energy use, up to a maximum bonus deduction of $20,000.
    Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) explanatory memorandum
  2. In view of the above considerations, the amendments in Schedule 3 to the Bill create a hybrid framework for DGR endorsement for community charities. This involves specification by class in the ITAA 1997, specification by name in a ministerial declaration, and entitlement to endorsement by the Commissioner, subject to certain conditions, including compliance with the community charity guidelines.
    Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) explanatory memorandum
  3. list Justice Reform Initiative Limited and Transparency International Australia as DGRs; and
    Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) explanatory memorandum
  4. The exemption currently applies from 24 December 2014 until 30 June 2023. The amendments apply to the income year starting on 1 July 2023, extending the current exemption until 30 June 2024. This will ensure that all contributions and other income of the GI Hub received during the period from 24 December 2014 until 30 June 2024 will be exempt from tax. [Schedule 5, item 1, table item 8.4 of section 50-40 of the ITAA 1997]
    Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) explanatory memorandum
  5. To broadly align the income tax law with AASB 17, AASB 17 must be used in working out assessable income and deductions. The policy intention is to reduce compliance costs for relevant taxpayers by broadly aligning requirements under the tax law with the taxpayer’s audited financial statements.
    Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) explanatory memorandum

Context

Broader context for this bill

In the 2023-24 Budget, the government bundled several practical fixes into one package: temporary tax help for small and medium businesses facing the upfront cost of electrification and energy-saving upgrades, new or extended deductible gift recipientA charity or fund that can receive tax-deductible donations, which makes giving to it more attractive to donors. access for selected charities and community foundations, a one-year extension of Global Infrastructure Hub LtdA named organisation whose income tax exemption is extended for another year under this bill.’s tax exemption, and tax rule changes to match insurers’ move to AASB 17The accounting standard insurers now use for insurance contracts, which the bill ties into tax reporting so the tax rules better match audited accounts.. The billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. introduced in September 2023 carried those measures through a lengthy cross-chamber negotiation before Parliament passed it in June 2024 and Royal AssentThe final step that turns a passed bill into an Act of Parliament. turned them into law.

  1. 2023-24 Budget

    Government announces small-business, charity and tax administration measures

    Budget measures promised a temporary bonus deduction for eligible small-business energy upgrades, new or extended deductible gift recipientA charity or fund that can receive tax-deductible donations, which makes giving to it more attractive to donors. access, a one-year Global Infrastructure Hub tax exemption extension, and insurer tax changes tied to AASB 17The accounting standard insurers now use for insurance contracts, which the bill ties into tax reporting so the tax rules better match audited accounts..

    Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) explanatory memorandum ↗
  2. 13 Sept 2023

    Government introduces the Treasury support package bill

    The government presented the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. as a package to ease pressure on small businesses, reduce compliance costs, encourage philanthropic giving and continue the existing Global Infrastructure Hub exemption.

    Hansard ↗
  3. 25 June 2024

    Parliament passes the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers.

    Both houses finally agreed on the same text after earlier disagreement over Senate amendmentsChanges made in the Senate that the House of Representatives had to agree to before the bill could become law., completing the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers.’s parliamentary passage.

    Parliamentary timeline ↗
  4. 28 June 2024

    Act receives Royal AssentThe final step that turns a passed bill into an Act of Parliament.

    Royal AssentThe final step that turns a passed bill into an Act of Parliament. turned the package into law, allowing the enacted schedules to operate according to their commencement rules, including the Global Infrastructure Hub exemption extension through 30 June 2024.

    Parliamentary timeline ↗

Legislative route

How did it move through Parliament?

House Senate
Introduced 13 Sept 2023

The billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. was formally presented to the chamber and read a first time, which starts its parliamentary journey.

Introduced and read a first time

Second reading opened 13 Sept 2023

A minister or sponsoring member moved the second reading, opening the main debate on the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers.'s purpose and principles.

Second reading moved

Economics Legislation Committee; Committee report (24/11/2023) review 19 Oct 2023

Referred to Committee (19/10/2023): Senate Economics Legislation Committee; Committee report (24/11/2023)

Referred to committee

APH bill page notes
Second reading debate 14 Nov 2023

The billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. reached this recorded parliamentary step.

Sent to Federation Chamber for debate 14 Nov 2023

The billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. reached this recorded parliamentary step.

Referred to Federation Chamber

Second reading debate 15 Nov 2023

The billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. reached this recorded parliamentary step.

Returned from Federation Chamber 27 Nov 2023

The billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. reached this recorded parliamentary step.

Reported from Federation Chamber

Second reading debate 27 Nov 2023

The billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. reached this recorded parliamentary step.

House second reading agreed 27 Nov 2023

The chamber agreed to the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. at second reading, meaning it accepted the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. in principle and allowed it to continue.

Second reading agreed to

Consideration in detail 27 Nov 2023

The chamber considered the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. in detail and dealt with amendments before the next stage.

Consideration in detail debate

House third reading agreed 27 Nov 2023

The chamber agreed to the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. at third reading, which completed passage through that chamber. Later message exchanges with the other chamber were still recorded afterwards.

Third reading agreed to

Introduced 27 Nov 2023

The billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. was formally presented to the chamber and read a first time, which starts its parliamentary journey.

Introduced and read a first time

Second reading opened 27 Nov 2023

A minister or sponsoring member moved the second reading, opening the main debate on the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers.'s purpose and principles.

Second reading moved

Senate second reading agreed Aye 16 No 21 27 Mar 2024

Recorded vote: 16 to 21.

The chamber agreed to the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. at second reading, meaning it accepted the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. in principle and allowed it to continue.

Second reading agreed to

Senate agreed to amendment packages 27 Mar 2024

The chamber considered amendments before the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. moved to the next stage. Later message exchanges with the other chamber were still recorded afterwards.

Third reading agreed to :

Message from Senate reported 14 May 2024

The billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. reached this recorded parliamentary step.

House agreed to Senate amendmentsChanges made in the Senate that the House of Representatives had to agree to before the bill could become law. 15 May 2024

The House rejected the Senate amendmentsChanges made in the Senate that the House of Representatives had to agree to before the bill could become law., so the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. returned to the Senate with the chambers still disagreeing.

Consideration of Senate message

Senate insisted on amendments 16 May 2024

The Senate dealt with the House response to amendments so both chambers could settle the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. in the same form.

Consideration of House of Reps message

Consideration of Senate message 28 May 2024

The House dealt with Senate amendmentsChanges made in the Senate that the House of Representatives had to agree to before the bill could become law. or requests so both chambers could settle the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. in the same form. The main accepted Senate changes reflected in the final bill were: The introduced and as-passed bill texts differ in 2 observed text blocks. Observed text changed from "Note: Schedule 8 to the Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2023,…" to "Note: Schedule 8 to the Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2024,…".

Senate stopped insisting on amendments 25 June 2024

The Senate decided not to insist again on its amendments after the House maintained its disagreement, allowing the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. to pass without those Senate changes.

Consideration of House of Reps message

Passed both houses 25 June 2024

Both houses passed the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. in the same form, completing parliamentary passage.

Finally passed both Houses

Assent 28 June 2024

The Governor-General gave Royal AssentThe final step that turns a passed bill into an Act of Parliament., turning the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. into an Act.

Key criticism

The main case against this bill

The main criticism was that the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers.’s small-business tax measures were too modest and short-lived, especially the $20,000 instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. and the limited energy incentive, so many firms would get too little relief. That case was raised most strongly by the Coalition and echoed in narrower form by some crossbenchMembers of Parliament who are not in the government or the main opposition, including independents and minor parties. supporters, who backed the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. overall but wanted higher caps or longer timeframes.

Criticism mostly targeted the size and design of the business incentives, not the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers.’s broader charity and tax changes.

Small-business relief seen as too weak

Critics argued the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. did not go far enough for small business because it reduced or kept the instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. at an inadequate level and offered only limited help with rising costs. They said a higher threshold was needed to make the measure meaningful.

Raised by Coalition MPs including Angus Taylor, Luke Howarth, Aaron Violi, Bert Van Manen and James Stevens Source ↗

Incentives seen as too temporary and narrow

Some supporters said the business incentives were useful but too short-lived, too tightly capped or too narrow to drive real investment. They wanted the measures extended, made permanent, or broadened so more businesses could actually use them.

Raised by Crossbench supporters including Helen Haines, Zali Steggall and Rebekha Sharkie, as well as Coalition speakers Source ↗

Further sources

parlinfo.aph.gov.au ↗

Votes

Recorded votes

How the bill itself passed

The bill passed both chambers on the voices. The counted divisions below were about amendments or procedure, not final passage.

Passed

House passed the bill

House agreed to the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers.'s third reading on the voices, so there is no list of individual Aye and No votes for final passage in that chamber.

27 Nov 2023

Passed on the voices

In a voice vote, members call out Aye or No and the presiding officer judges which side has it. Individual names are only recorded if a formal division is called.

Passed

Senate passed the bill

Senate agreed to the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers.'s third reading on the voices, so there is no list of individual Aye and No votes for final passage in that chamber.

27 Mar 2024

Passed on the voices

In a voice vote, members call out Aye or No and the presiding officer judges which side has it. Individual names are only recorded if a formal division is called.

Defeated

Senate cleared second reading

Aye 16 No 21

Defeated 16 to 21. Support came from Greens, Jacqui Lambie Network, One Nation, UAP, and minor parties and independents. Opposition came from Labor, Liberal Party, and Nationals. Minor-party and independent votes were split.

27 Mar 2024

Party Recorded votes Aye / No
Labor 0 / 14
Greens 11 / 0
Unknown 1 / 4
Liberal Party 0 / 2
Independent 1 / 0
Jacqui Lambie Network 1 / 0
Nationals 0 / 1
One Nation 1 / 0
UAP 1 / 0

Amendments at a glance

Recorded amendment and procedural votes grouped by chamber. Expand a vote to see the party breakdown.

House

Carried

Reject Senate write-off changes

Aye 75 No 18

Passed 75 to 18. Support came from Labor. Opposition came from Liberal Party, Greens, Centre Alliance, Nationals, and minor parties and independents. Minor-party and independent votes were split.

15 May 2024

This kept the House from accepting the Senate’s proposed changes, preserving the government’s original bill position at that stage.

Party Recorded votes Aye / No
Labor 66 / 0
Unknown 9 / 8
Independent 0 / 5
Liberal Party 0 / 2
Greens 0 / 1
Centre Alliance 0 / 1
Nationals 0 / 1
Defeated

Call for pre-COVID instant write-off

Aye 57 No 78

Defeated 57 to 78. Support came from Liberal Party and Nationals. Opposition came from Labor, Greens, and Centre Alliance. Minor-party and independent votes were split.

27 Nov 2023

The amendment was defeated, so the House did not add that call to the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers.’s second-reading statement.

Party Recorded votes Aye / No
Labor 0 / 63
Unknown 23 / 11
Liberal Party 19 / 0
Nationals 11 / 0
Independent 4 / 2
Greens 0 / 1
Centre Alliance 0 / 1
Defeated

Expand small-business energy incentive

Aye 13 No 54

Defeated 13 to 54. Support came from Greens and Centre Alliance. Opposition came from Labor, Liberal Party, and Katter's Australian Party. Minor-party and independent votes were split.

27 Nov 2023

The amendments were defeated, so the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. kept the narrower original energy incentive settings.

Party Recorded votes Aye / No
Labor 0 / 46
Unknown 5 / 4
Independent 6 / 1
Liberal Party 0 / 2
Greens 1 / 0
Centre Alliance 1 / 0
Katter's Australian Party 0 / 1
Defeated

Raise write-off to $30,000

Aye 63 No 73

Defeated 63 to 73. Support came from Liberal Party, Nationals, Greens, and Katter's Australian Party. Opposition came from Labor. Minor-party and independent votes were split.

27 Nov 2023

The amendment package was defeated, so the House kept the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers.’s original small-business threshold.

Party Recorded votes Aye / No
Labor 0 / 63
Unknown 26 / 8
Liberal Party 19 / 0
Nationals 11 / 0
Independent 5 / 2
Greens 1 / 0
Katter's Australian Party 1 / 0
Carried

Reject Senate changes again

Aye 73 No 68

Passed 73 to 68. Support came from Labor. Opposition came from Liberal Party, Nationals, Greens, Katter's Australian Party, and minor parties and independents. Minor-party and independent votes were split.

28 May 2024

This maintained the House’s refusal to accept the Senate changes and kept the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. on a path to final compromise.

Party Recorded votes Aye / No
Labor 64 / 0
Unknown 9 / 28
Liberal Party 0 / 21
Nationals 0 / 9
Independent 0 / 8
Greens 0 / 1
Katter's Australian Party 0 / 1

Senate

Defeated

Drop insistence on Senate changes

Aye 19 No 39

Defeated 19 to 39. Support came from Labor. Opposition came from Liberal Party, Greens, Nationals, One Nation, and minor parties and independents. Minor-party and independent votes were split.

16 May 2024

This moved the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. toward compromise by backing away from the Senate’s earlier amendment position.

Party Recorded votes Aye / No
Labor 17 / 0
Liberal Party 0 / 17
Greens 0 / 11
Unknown 2 / 4
Nationals 0 / 4
Independent 0 / 1
One Nation 0 / 1
UAP 0 / 1
Carried

Stop insisting on Senate changes

Aye 29 No 12

Passed 29 to 12. Support came from Labor, Liberal Party, Nationals, and minor parties and independents. Opposition came from Greens and minor parties and independents.

25 June 2024

This removed the last Senate obstacle and allowed the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. to proceed in the form needed for final passage.

Party Recorded votes Aye / No
Labor 16 / 0
Greens 0 / 10
Liberal Party 7 / 0
Unknown 5 / 0
Independent 0 / 2
Nationals 1 / 0
Defeated

Pre-COVID write-off call defeated 29-26

Aye 26 No 29

Defeated 26 to 29. Support came from Liberal Party, Nationals, Jacqui Lambie Network, and One Nation. Opposition came from Labor, Greens, and minor parties and independents. Minor-party and independent votes were split.

27 Mar 2024

The amendment was defeated, so the second-reading statement calling for a bigger instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. did not carry.

Party Recorded votes Aye / No
Labor 0 / 14
Liberal Party 13 / 0
Greens 0 / 11
Unknown 6 / 3
Nationals 4 / 0
Independent 0 / 1
Jacqui Lambie Network 1 / 0
One Nation 1 / 0
UAP 1 / 0
Carried

Write-off raised to $30,000 in Senate

Aye 38 No 17

Passed 38 to 17. Support came from Liberal Party, Greens, Nationals, One Nation, and minor parties and independents. Opposition came from Labor. Minor-party and independent votes were split.

27 Mar 2024

The amendment package was carried, so the Senate agreed to expand the write-off beyond the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers.’s original small-business settings.

Party Recorded votes Aye / No
Labor 0 / 14
Liberal Party 13 / 0
Greens 11 / 0
Unknown 6 / 3
Nationals 3 / 0
One Nation 2 / 0
Independent 1 / 0
Jacqui Lambie Network 1 / 0
UAP 1 / 0
Defeated

Energy incentive extension defeated 20-17

Aye 17 No 20

Defeated 17 to 20. Support came from Greens, One Nation, Jacqui Lambie Network, UAP, and minor parties and independents. Opposition came from Labor, Liberal Party, and Nationals. Minor-party and independent votes were split.

27 Mar 2024

The amendment package was defeated, so the proposed second-reading call for longer and broader energy incentive support did not pass.

Party Recorded votes Aye / No
Labor 0 / 14
Greens 11 / 0
Unknown 1 / 4
One Nation 2 / 0
Independent 1 / 0
Jacqui Lambie Network 1 / 0
Liberal Party 0 / 1
Nationals 0 / 1
UAP 1 / 0
Defeated

Restore $20,000 small-business write-off

Aye 16 No 21

Defeated 16 to 21. Support came from Greens, Jacqui Lambie Network, One Nation, UAP, and minor parties and independents. Opposition came from Labor, Liberal Party, and Nationals. Minor-party and independent votes were split.

27 Mar 2024

The amendment was defeated, so the Senate did not replace the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers.’s proposed threshold with the $20,000 version.

Party Recorded votes Aye / No
Labor 0 / 14
Greens 11 / 0
Unknown 1 / 4
Liberal Party 0 / 2
Independent 1 / 0
Jacqui Lambie Network 1 / 0
Nationals 0 / 1
One Nation 1 / 0
UAP 1 / 0

This list includes amendment votes, procedural votes and votes on the bill itself.

Parliamentary debate

Who spoke, and what they said

Start here — lead voices

Sponsor speech Supports

Stephen Jones

Australian Labor Party • MP 13 Sept 2023

Stephen Jones supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers., saying it delivers budget measures to help small businesses, charities and philanthropy, while also simplifying tax settings and clarifying superannuation and insurance arrangements.

Read in Hansard ↗
Lead opposing voice Opposes

Luke Howarth

Liberal Party • MP 15 Nov 2023

Howarth opposes the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. as drafted, saying Labor has cut the instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. to an inadequate $20,000 and broken its promises to small business.

Read in Hansard ↗
Lead supporting voice Supports

Aaron Violi

Liberal Party • MP 15 Nov 2023

Violi says the coalition will support the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers., but only reluctantly, because he считает it does not go far enough for small business and cuts the instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date..

Read in Hansard ↗
Lead non-major voice Opposes

Dai Le

Independent • MP 15 Nov 2023

Dai Le opposes the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. because she says it reduces the instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. and does not give small businesses enough relief to cope with inflation, higher interest rates and post-COVID pressures.

Read in Hansard ↗

All speeches by bloc

Labor

11 speakers · 12 contributions · 11 support

  1. Zaneta Mascarenhas Mascarenhas supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. and says it will help small businesses, charities and community foundations grow through practical tax changes, lower compliance costs and targeted support.
    “I commend the legislation to the House, and I look forward to contributing further to the debate on this important legislation by a government that's not afraid to take action and make Australia a better place.”

    Australian Labor Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  2. Andrew Charlton Charlton supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. and says it gives small businesses concrete help, especially through incentives for energy efficiency and lower bills.
    “This bill provides a lot of support for small businesses. It provides incentives to help small businesses save on their energy bills, and, under this proposal, small businesses with an aggregate turnover of less than $50 million per year will be able to claim an additional 20 per cent tax deduction for eligible assets that enhance electrification and energy efficiency.”

    Australian Labor Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  3. Graham Perrett Graham Perrett supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. and says it makes things fairer for small businesses, self-managed super funds and charitable foundations.
    “The Albanese Labor government is committed to taking action to support small businesses. Sadly, too many of those opposite have sided with big business over small, at the expense of everyday Aussies. This bill can really be summed up in one word: fairness. It makes things fairer for small businesses, fairer for self-managed super funds and fairer for charitable foundations. The Albanese Labor government will continue to take action to support the communities that keep Australia moving, and I commend this bill to the House.”

    Australian Labor Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  4. Daniel Mulino Daniel Mulino supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. because it helps small businesses with cash flow, instant asset write-offs, and energy efficiency investments, while also giving several charities deductible gift recipientA charity or fund that can receive tax-deductible donations, which makes giving to it more attractive to donors. status.
    “To conclude, I'd say this is a TLAB that provides for a number of important measures. Small business lies at the heart of our economy. It employs 5.2 million people—almost half the workforce—and it provides so much more than that. It provides people with opportunity—to work, to be entrepreneurs, to be business owners and to live dreams. But small businesses can also be vulnerable on occasion. Measures like this are vitally important to give small businesses the supportive environment they need to be able to thrive. I very much support this bill and look forward to seeing its passage through this House.”

    Australian Labor Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  5. Fiona Phillips Phillips strongly supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers., saying it will help small businesses cut energy costs, improve cash flow and reduce red tape, while also extending support to charities.
    “Small businesses are the lifeblood of our regions, and we need to do everything we can to help them through some of these hard economic times. That's what this government is doing, and this bill is just one piece of that puzzle. I am proud to be supporting it. I commend the bill to the House.”

    Australian Labor Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  6. Louise Miller-Frost Miller-Frost supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. and says it gives small businesses practical help through a higher instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. and a new energy incentive.
    “This government is making a number of changes to provide an environment where small businesses can grow and thrive. This bill provides some more support for small businesses, and I welcome it.”

    Australian Labor Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  7. Stephen Jones ★ 2 contributions Stephen Jones supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. and says it delivers targeted help for small businesses, charities, superannuation members and consumers.

    Hansard records 2 separate contributions by Stephen Jones on this bill. They are grouped here so the speaker is listed once.

    Minister's second reading speech Australian Labor Party • MP • 13 Sept 2023

    Stephen Jones supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers., saying it delivers budget measures to help small businesses, charities and philanthropy, while also simplifying tax settings and clarifying superannuation and insurance arrangements. He argues it backs small business, lowers compliance costs and helps more groups benefit from the energy transition.

    “Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023 delivers measures announced in the 2023-24 budget to ease pressure and boost resilience for small businesses, also reducing compliance costs, and encouraging philanthropic giving. The bill also extends the existing Global Infrastructure Hub income tax exemption and clarifies certain arrangements relating to superannuation and insurance.”
    Read this contribution in Hansard ↗

    Second reading speech Australian Labor Party • MP • 15 Nov 2023

    Stephen Jones supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. and says it delivers targeted help for small businesses, charities, superannuation members and consumers. He also rejects the opposition's amendments as uncosted and says the government's measures are carefully targeted and stand on their own merits.

    “With those comments in mind, I once again thank members for their contributions to the debate and commend the bill to the House.”
    Read this contribution in Hansard ↗
  8. Anne Stanley Stanley supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers., saying it extends substantial help to small businesses and charities through tax write-offs, energy bill relief, and other measures that will improve cash flow and reduce compliance costs.
    “The bill contains a comprehensive package of measures to continue the government's substantial support for Australian small businesses. The Albanese government knows that small businesses are the lifeblood of our economy and of many communities across the country, including Werriwa. These measures build upon the significant support provided to small businesses in the last budget to invest in the security and certainty of operation that we know small businesses need to grow.”

    Australian Labor Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  9. Jerome Laxale Jerome Laxale supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. and says it will give small businesses and charities practical help through the $20,000 instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date., the energy efficiency tax deduction, and simpler compliance.
    “This bill delivers significant, new and practical measures to support resilience in both the small business and the not-for-profit sectors, helping them both prosper and deliver through challenging conditions.”

    Australian Labor Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  10. Carol Brown Brown supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. and says its small business, philanthropy and superannuation measures back small businesses, cut compliance costs and encourage giving.
    “The first two Schedules of the Bill are another demonstration of this Government's commitment to supporting small business.”

    Australian Labor Party • Senator • 27 Nov 2023

    Read the full speech in Hansard ↗
  11. Julie Collins Julie Collins supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. and says it gives small businesses a better deal by extending the instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. and a new energy incentive to help them invest, cut bills and grow.
    “The Albanese government is delivering a better deal for small businesses, easing current cost pressures and helping them to improve their long-term resilience. This bill delivers on two key elements to support small business.”

    Australian Labor Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗

Coalition

8 speakers · 5 support · 2 oppose · 1 mixed

  1. Luke Howarth ★ Howarth opposes the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. as drafted, saying Labor has cut the instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. to an inadequate $20,000 and broken its promises to small business.
    “While this bill has some measures that we can support, quite frankly it doesn't make up for Labor's broken promises and lack of support and bad attitude to small and family businesses as a whole.”

    Liberal Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  2. Aaron Violi ★ Violi says the coalition will support the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers., but only reluctantly, because he считает it does not go far enough for small business and cuts the instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date..
    “While the coalition believes that this isn't a great bill, we will support it. But the reality is it doesn't go nearly far enough. The coalition will move amendments to recognise Labor's failure to support small and family businesses and extend the instant asset write-off back to the levels seen in the 2019-20 budget.”

    Liberal Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  3. Michael McCormack McCormack says the coalition supports the small-business measures in principle, but argues the $20,000 instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. is too low and the 30 June deadline makes the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. impractical for farmers and regional businesses.
    “Small business for my own electorate—all politics is local—is very, very important. Just with the new instant asset write-off measure, we've got 19,600 small businesses that are going to rely on this measure. But I cannot understand—and I'm pleased that the minister is in the room—why it's only up to $20,000. That just defies logic. I know that we as a coalition government put it in as a COVID measure. I was around the cabinet table. I was around the Expenditure Review Committee table. I was very much part and parcel of all that decision-making as the Deputy Prime Minister. When we made it an unlimited instant asset write-off, I know that we received record tax receipts. It's like the old business axiom that you have to spend money to make money. It does cost government money. I get that; I appreciate that. But why wouldn't we want to be more productive?”

    National Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  4. Bert Van Manen Van Manen says the coalition will support the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers., but argues it does not go far enough because the instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. should be lifted from $20,000 to $30,000 for small business.
    “The coalition will support this bill, but we don't think it goes far enough. This bill decimates the instant asset write-off that the coalition brought in to assist small-to-medium business in cleaning up their balance sheets so they didn't have to run depreciation schedules and a whole bunch of paperwork and expense with their accountants each and every year.”

    Liberal Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  5. Terry Young Terry Young opposes the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. in its current form, saying it does not go far enough for small business because the instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. should have no cap and the 30 June 2024 end date is too short.
    “The other issue with this bill is the 30 June 2024 cut-off date. Many small businesses will only find out about this initiative when they go to their accountants to do their tax for the 2024 financial year, and that will be too late for them to take advantage of it. The date needs to be extended until at least 2025—or it should have no expiry date—giving small business certainty.”

    Liberal National Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  6. Angus Taylor Taylor says the coalition will support the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers., but will push amendments because it thinks the small-business measures are poorly designed and do not go far enough to help small firms.
    “While not opposed in principle, the coalition has significant concerns about the design, effectiveness and utility of the small-business incentive, and will examine this through the Senate Economics Legislation Committee. The coalition is also concerned about Labor's plan to create different rules for large superannuation funds and small and self-managed super funds through its changes to the non-arm's-length expenses provision, and will examine this too through the Senate Economics Legislation Committee. While the coalition will support the bill, we will move amendments to recognise failures from Labor to support small and family businesses and to extend the instant asset write-off back to the levels seen in the 2019-20 budget.”

    Liberal Party • MP • 14 Nov 2023

    Read the full speech in Hansard ↗
  7. Keith Wolahan Wolahan says the coalition will support the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers., but argues it does not go far enough and needs amendments to better help small business and charities.
    “The coalition will be supporting the Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023 but, as my colleagues have said before me, it does not go far enough. It does not go far enough in particular measures that are within the bill, which we will be putting amendments forward to fix. My colleagues have also, quite rightly, spoken about the lack of proper support to small business, and I can single out two areas.”

    Liberal Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  8. James Stevens James Stevens says the opposition will support the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers., but argues it is only a meagre, belated measure for small business and should have gone much further on the instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. and energy rebate settings.
    “Nonetheless, we won't stand in the way of the passage of this bill. It is a meagre support to business. It is a pale imitation of what we did in government, but if this is all the government's prepared to put forward then of course we will support it.”

    Liberal Party • MP • 15 Nov 2023

    Read the full speech in Hansard ↗

Minor parties and independents

4 speakers · 3 support · 1 oppose

  1. Dai Le ★ Dai Le opposes the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. because she says it reduces the instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. and does not give small businesses enough relief to cope with inflation, higher interest rates and post-COVID pressures.
    “The foundation of our community infrastructure may collapse if we lose small businesses and their imperative function. Moreover, the ongoing operations of small businesses stimulate competition, keeping prices low and simultaneously keeping levels of innovation high. Curtailing the extent of support that small firms receive will intensify their struggles to compete with larger businesses. This will engender a less diverse market for goods and services, creating an environment where larger businesses will dominate market segments and small businesses will be unable to compete. In many ways, this bill fails to provide significant relief for owners of small businesses and serves as a barrier for smaller firms to effectively maintain growth. It instead serves to further exacerbate the financial concerns in this period of economic uncertainty.”

    Independent • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  2. Helen Haines Haines supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. because its small business energy incentiveThe temporary bonus tax deduction for small and medium businesses that spend on electrification and energy-saving upgrades. will help businesses cut bills and emissions by investing in electrification and efficiency.
    “The government can and must do more to support households and businesses to do this, and that's why I support this bill and will continue pushing for additional measures and for the government to do better for small business.”

    Independent • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  3. Zali Steggall Steggall says she will support the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. because it gives small businesses some useful help with the instant asset write-offA rule that lets businesses deduct the cost of certain assets straight away instead of over time; this bill was debated mainly because of its size and end date. and energy efficiency spending.
    “I'll be supporting this bill, but I will also be moving amendments to increase the amount for the instant asset write-off and the energy incentive to extend it for another year, because, if we are going to be genuine about these measures, we have to put them within a time frame where businesses will actually be able to make use of them. If not, it is window dressing and posturing.”

    Independent • MP • 15 Nov 2023

    Read the full speech in Hansard ↗
  4. Rebekha Sharkie Sharkie supports the billThe law that bundles several tax changes for small businesses, charities, one named infrastructure body, and general insurers. and says its small business tax breaks will help cash flow and offset rising costs, but she argues the thresholds are too low and the measures should run for longer.
    “As with the instant asset write-off provisions, I urge the government to consider increasing the maximum amount of the bonus deduction and making that initiative ongoing. And let's not forget that, again, we need to have a longer lead time. One year is not enough if you're a small manufacturing business and you're ordering in equipment from overseas. We don't manufacture a lot of large-scale commercial stuff, such as fridges, freezers, ovens and stills for distilleries; all of that generally needs to come from overseas. I support the schedules in this bill and implore the government to do everything within its powers to work towards reducing the cost of energy and other spiralling costs that are hurting businesses in our community.”

    Centre Alliance • MP • 15 Nov 2023

    Read the full speech in Hansard ↗

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