The Senate Environment and Communications Legislation Committee report on the Clean Energy Legislation (Carbon Tax Repeal) Bill 2013 [No 2] and associated Bills was tabled on Tue 8.7.2014. The Committee majority recommended the Bills be passed by the Senate. The Labor and Greens Senators issued dissenting reports.
However, one of the Bills in the package that effectively proposed to cancel tax cuts, the Clean Energy (Income Tax Rates and Other Amendments) Bill 2013 [No 2], was on Wed 9.7.2014, defeated at Second Reading stage in the Senate – the vote was 40:33. The Bill proposed to cancel the carbon tax-related income tax cuts that were legislated to commence on 1 July 2015, and repeal the associated amendments to the low-income tax offset. Under the Bill, the tax-free threshold was to remain at id=”mce_marker”8,200 (instead of increasing to id=”mce_marker”9,200 from 1 July 2015), and the second personal marginal tax rate was to remain at 32.5% (instead of increasing to 33% from 1 July 2015).
The Senate Wed 9.7.2014 however, agreed to the Second Reading of the other 8 Bills in the carbon tax repeal package.
[LTN 130, 9/7/14]