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Tax Laws Amendment (2012 Measures No. 5) Bill 2012

2010-2011-2012

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

 

 

 

 

 

Tax Laws Amendment (2012 Measures No. 5) Bill 2012

 

No.      , 2012

 

(Treasury)

 

 

 

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

Schedule 1—Conservation tillage refundable tax offset                                 3

Income Tax Assessment Act 1997                                                                               3

Schedule 2—Mature age worker tax offset                                                             4

Income Tax Assessment Act 1997                                                                               4

Schedule 3—Compliance regime for gaseous fuels                                            5

Part 1—Main amendments                                                                                          5

Excise Act 1901                                                                                                             5

Part 2—Consequential amendments                                                                     16

Fuel Tax Act 2006                                                                                                      16

Taxation Administration Act 1953                                                                          16

Schedule 4—Fuel blending exemptions                                                                   17

Excise Act 1901                                                                                                           17

Excise Tariff Act 1921                                                                                               17

Schedule 5—Deductible gift recipients                                                                     18

Income Tax Assessment Act 1997                                                                             18

Schedule 6—Wine equalisation tax                                                                            19

Part 1—Producer rebates                                                                                            19

A New Tax System (Wine Equalisation Tax) Act 1999                                        19

Part 2—Technical amendments                                                                               22

A New Tax System (Wine Equalisation Tax) Act 1999                                        22

 



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 (2012 Measures No. 5) Act 2012 .

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.  Schedules 1 and 2

The day this Act receives the Royal Assent.

 

3.  Schedule 3

The later of:

(a) 1 December 2012; and

(b) the day after this Act receives the Royal Assent.

 

4.  Schedule 4, item 1

A single day to be fixed by Proclamation.

However, if the provision(s) do not commence within the period of 6 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

 

5.  Schedule 4, item 2

The day this Act receives the Royal Assent.

 

6.  Schedule 4, items 3 to 6

At the same time as the provision(s) covered by table item 4.

 

7.  Schedules 5 and 6

The day this Act receives the Royal Assent.

 

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.