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Tax Laws Amendment (2013 Measures No. 4) Bill 2013

2010-2011-2012-2013

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

 

 

 

 

 

Tax Laws Amendment (2013 Measures No. 4) Bill 2013

 

No.      , 2013

 

(Treasury)

 

 

 

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

   

   



Contents

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

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

3............ Schedule(s)......................................................................................... 2

Schedule 1—Targeting R&D tax incentive to small and medium businesses         3

Income Tax Assessment Act 1997                                                                               3

Industry Research and Development Act 1986                                                       4

Schedule 2—Quarterly R&D credits                                                                           5

Part 1—Main amendment                                                                                            5

Taxation Administration Act 1953                                                                            5

Part 2—Innovation Australia’s role                                                                      36

Industry Research and Development Act 1986                                                     36

Part 3—Other amendments                                                                                       44

Income Tax Assessment Act 1936                                                                             44

Income Tax Assessment Act 1997                                                                             44

Taxation Administration Act 1953                                                                          46

Taxation (Interest on Overpayments and Early Payments) Act 1983               48

Tax Laws Amendment (Research and Development) Act 2011                          51

Part 4—Application and transitional provisions                                             52

Schedule 3—Refunding excess GST                                                                          53

A New Tax System (Goods and Services Tax) Act 1999                                       53

Income Tax Assessment Act 1936                                                                             57

Taxation Administration Act 1953                                                                          57

 



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

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the Tax Laws Amendment (2013 Measures No. 4) Act 2013 .

2   Commencement

                   This Act commences on the day this Act receives the Royal Assent.

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.