The House rose at 10pm interrupting the first reading debate on the Taxation (Annual Rates for 2015-16, Research and Development, and Remedial Matters) Bill.
Revenue Minister Todd McClay said the omnibus bill would amongst other things implement policy decisions around research and development taxation issues The bill also clarified issues around body corporates and GST., tax pooling, and other remedial issues.
He also said the bill also clarified rules around the “intent” of changes to the child support scheme
Labour’s Clayton Cosgrove said he felt sorry for McClay who had to tidy up a mess in legislation ranging from a “stuff up” over body corporates to child support problems. The changes to the child support regime also showed a blow out in costs which the Govt was trying to roll back in this bill by reducing the changes originally proposed to the regime.
Labour MPs attacked the child support changes, but said they would support the bill to select committee
The House rose at 10pm and will resume tomorrow at 2pm.
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