Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Link to this | Hansard source

The coalition does not oppose the Tax Laws Amendment (2011 Measure No. 9) Bill 2011. The bill makes the following changes to taxation law. It allows certain superannuation fund members to electronically request consolidation of their super funds through the Australian Taxation Office. It allows entities in the restructure to use share or interests of a sale of facilities without filing a requirement of certain capital gains tax rollovers. It provides capital gains tax demerger relief. It provides for expanded capital gains tax rollovers to entities changing their incorporation. It implements aspects of the Treasury's review of the GST financial supply provisions, clarifies the GST treatment of new residential premises, adds the Rhodes Trust to the deductibility gift recipient list and makes various other minor technical changes.

These changes are all supported by the coalition, and with these few words I commend the bill to the Senate.

Question agreed to.

Bill read a second time.