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Tax agents bill ‘rammed through’ Senate

The bill requiring financial services licensees to register as tax agents has passed the Senate, despite continued opposition from the Coalition.

The legislation required more scrutiny, Shadow Assistant Treasurer Mathias Cormann told senators before the vote on Friday, the Senate’s last day sitting.

The bill has been “rammed” through, along with two other tax amendments, he says.

“Normally each one of these bills would have a substantial debate in its own right, be subject to the proper scrutiny of the Senate and be properly fleshed out so all of us could be in a position to make a considered and well-informed judgement.

“So here we are – another day, another three Labor Party tax bills the Government wants to ram through the parliament. These are not insignificant issues.”

Senator Cormann acknowledges the Government agreed with the Coalition on the exemption for financial advisers, allowing a one-year extension.

Independent senator Nick Xenophon also objected to the bills being pushed through, noting he had only five minutes to speak, with just 11 minutes allowed for debate after him.

“It is absolutely appalling that the house of review has been reduced to a rubber stamp,” he said. “We have a situation where we cannot have any amendments being passed by this place because, if we do, the House of Representatives has got up for the winter session.

“We will not have any committee stage to go through these issues.”

The Senate passed the tax agents bill with a majority of nine.