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Tax Laws Amendment (2011 Measures No. 8) Bill 2011

2010-2011

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

As passed by both Houses

 

 

 

 

 

 

 

 

 

Tax Laws Amendment (2011 Measures No. 8) 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)......................................................................................... 2

4............ Amendment of assessments................................................................ 2

Schedule 1—Commissioner’s discretion for primary production concessions      3

Income Tax Assessment Act 1997                                                                               3

Schedule 2—Clarifying taxing point for Petroleum Resource Rent Tax 5

Petroleum Resource Rent Tax Assessment Act 1987                                              5

Schedule 4—Consequential amendments for taxation of gaseous fuels 7

Part 1—Excise Act 1901                                                                                              7

Part 2—Fuel Tax Act 2006                                                                                         8

 



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 Tax Laws Amendment (2011 Measures No. 8) 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 4 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

 

2.  Schedules 1 and 2

The day this Act receives the Royal Assent.

 

7.  Schedule 4

Immediately after the commencement of Schedule 1 to the Taxation of Alternative Fuels Legislation Amendment Act 2011 .

1 December 2011

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.

4   Amendment of assessments

                   Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:

                     (a)  the assessment was made before the commencement of Schedule 1 to this Act; and

                     (b)  the amendment is made for the purpose of giving effect to item 1, 2 or 3 of that Schedule; and

                     (c)  the amendment is made within 2 years after the day on which this section commences.