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Clean Energy (Tax Laws Amendments) Bill 2011

2010-2011

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

As passed by both Houses

 

 

 

 

 

 

 

 

 

Clean Energy (Tax Laws Amendments) Bill 2011

 

No.      , 2011

 

 

 

 

 

A Bill for an Act to amend the law relating to taxation, and for related purposes

   

   



Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Schedule(s)......................................................................................... 3

Schedule 1—Low-income tax offset                                                                             4

Part 1—Amendments applying from the 2012-13 year of income         4

Income Tax Assessment Act 1936                                                                               4

Part 2—Amendments applying from the 2015-16 year of income         5

Income Tax Assessment Act 1936                                                                               5

Schedule 2—Medicare levy and Medicare levy surcharge                            6

A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999     6

Medicare Levy Act 1986                                                                                              6

Schedule 3—Tax rebate for low income aged persons and pensioners 8

Income Tax Assessment Act 1936                                                                               8

Income Tax Assessment Act 1997                                                                             10

Medicare Levy Act 1986                                                                                            11

 



A Bill for an Act to amend the law relating to taxation, and for related purposes

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the Clean Energy (Tax Laws Amendments) Act 2011 .

2   Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provision(s)

Commencement

Date/Details

1.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

 

2.  Schedule 1, Part 1

The later of:

(a) the start of 1 July 2012; and

(b) the commencement of section 3 of the Clean Energy Act 2011 .

However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur.

 

3.  Schedule 1, Part 2

The later of:

(a) the start of 1 July 2015; and

(b) the commencement of section 3 of the Clean Energy Act 2011 .

However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur.

 

4.  Schedule 2

The latest of:

(a) the start of 1 July 2012; and

(b) the commencement of section 3 of the Clean Energy Act 2011 ; and

(c) the commencement of Part 1 of Schedule 1 to the Clean Energy (Income Tax Rates Amendments) Act 2011 .

However, the provision(s) do not commence at all unless both of the events mentioned in paragraphs (b) and (c) occur.

 

5.  Schedule 3

The later of:

(a) the start of 1 July 2012; and

(b) the commencement of section 3 of the Clean Energy Act 2011 .

However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur.

 

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3   Schedule(s)

                   Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.