Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Tax Laws Amendment (Norfolk Island CGT Exemption) Bill 2016

2013-2014-2015-2016

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

As passed by both Houses

 

 

 

 

Tax Laws Amendment (Norfolk Island CGT Exemption) Bill 2016

 

No.      , 2016

 

 

 

 

 

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............ Schedules............................................................................................ 2

Schedule 1—Norfolk Island capital gains tax exemption                               3

Income Tax Assessment Act 1997                                                                               3

Income Tax (Transitional Provisions) Act 1997                                                     3

 

 



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 (Norfolk Island CGT Exemption) Act 2016 .

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

Provisions

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

Immediately after the commencement of the Tax and Superannuation Laws Amendment (Norfolk Island Reforms) Act 2015 .

1 July 2016

Note:          This table relates only to the provisions of this Act as originally enacted.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   Schedules

                   Legislation 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.