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Bills of the current Parliament

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Tax and Superannuation Laws Amendment (Norfolk Island Reforms) Bill 2015


Type
Government
Originating house
House of Representatives
Status
Before Reps
Portfolio
Treasury

Summary

Part of a package of eight bills to reform the legal and governance framework for Norfolk Island, the bill amends the: Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997 to: remove an income tax exemption available to Norfolk Island residents, companies and trustees on income sourced from Norfolk Island and outside Australia; and to remove the full exemption from the Medicare levy for residents; Income Tax (Transitional Provisions) Act 1997 to apply transitional arrangements to the capital gains tax liabilities of resident entities; and Superannuation Guarantee (Administration) Act 1992 to: remove superannuation guarantee exemptions that apply to employers and employees in relation to work performed on Norfolk Island; and establish transitional arrangements which will phase in the superannuation guarantee over the next 12 years.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 26/03/15  
Second reading moved 26/03/15  
     

Text of bill

  • First reading

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

Bills Digest



Notes