Thursday, 2 May 2024

Commercial and Industrial Property Tax Reform Bill 2024

Second reading

Debate resumed on motion of Tim Pallas:

That this bill be now read a second time.

And Brad Rowswell’s amendment:

That all the words after ‘That’ be omitted and replaced with the words ‘this house refuses to read this bill a second time until the government commits to:

(1) further consultation on the proposed CIPT rate including the cost neutrality of the proposed reforms and how the reforms will affect owners of regional and non-regional commercial and industrial properties;

(2) providing investors with certainty and confidence against any potential future tax increases; and

(3) making public the modelling assumptions underpinning the $50 billion economic uplift anticipated from this reform scheme and the rationale for the risk margin component of the proposed 10-year transitional government loan, including any future changes made to the risk margin component of the loan rate’.

The SPEAKER: The minister has moved that the bill be now read a second time. The member for Sandringham has moved a reasoned amendment to this motion. He has proposed to omit all the words after ‘That’ and replace them with the words which appear on the notice paper. The question is:

That the words proposed to be omitted stand part of the question.

Those supporting the reasoned amendment moved by the member for Sandringham should vote no.

Assembly divided on question:

Ayes (52): Juliana Addison, Colin Brooks, Josh Bull, Ben Carroll, Anthony Cianflone, Sarah Connolly, Chris Couzens, Jordan Crugnale, Lily D’Ambrosio, Gabrielle de Vietri, Steve Dimopoulos, Paul Edbrooke, Eden Foster, Matt Fregon, Ella George, Luba Grigorovitch, Bronwyn Halfpenny, Katie Hall, Paul Hamer, Martha Haylett, Mathew Hilakari, Melissa Horne, Natalie Hutchins, Lauren Kathage, Sonya Kilkenny, Nathan Lambert, Gary Maas, Alison Marchant, Kathleen Matthews-Ward, Steve McGhie, Paul Mercurio, John Mullahy, Tim Pallas, Danny Pearson, Tim Read, Tim Richardson, Ellen Sandell, Michaela Settle, Ros Spence, Nick Staikos, Natalie Suleyman, Meng Heang Tak, Jackson Taylor, Nina Taylor, Kat Theophanous, Mary-Anne Thomas, Emma Vulin, Iwan Walters, Vicki Ward, Dylan Wight, Gabrielle Williams, Belinda Wilson

Noes (24): Brad Battin, Jade Benham, Roma Britnell, Martin Cameron, Annabelle Cleeland, Chris Crewther, Wayne Farnham, Sam Groth, Matthew Guy, David Hodgett, Emma Kealy, Tim McCurdy, Cindy McLeish, James Newbury, Danny O’Brien, Michael O’Brien, Kim O’Keeffe, John Pesutto, Brad Rowswell, David Southwick, Bridget Vallence, Peter Walsh, Kim Wells, Nicole Werner

Question agreed to.

Motion agreed to.

Read second time.

Third reading

The SPEAKER: As the required statement of intention has been made under section 85(5)(c) of the Constitution Act 1975, the third reading of this bill must be passed by an absolute majority. As there are no voices for the noes and there are more than 45 members present in the chamber, I declare the third reading passed with the concurrence of an absolute majority of the whole number of the members of the Legislative Assembly.

Motion agreed to by absolute majority.

Read third time.

The SPEAKER: The bill will now be sent to the Legislative Council and their agreement requested.