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Treasury Laws Amendment (2017 Measures No. 2) Bill 2017

2016-2017

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

As passed by both Houses

 

 

 

 

Treasury Laws Amendment (2017 Measures No. 2) Bill 2017

 

No.      , 2017

 

 

 

 

 

A Bill for an Act to amend the law relating to taxation, superannuation, personal insolvency and corporate insolvency, and for related purposes

   

   



Contents

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

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

3............ Schedules............................................................................................ 3

Schedule 1—Amendments relating to superannuation reform package   4

Part 1—Amendments                                                                                                     4

Income Tax Assessment Act 1997                                                                               4

Income Tax (Transitional Provisions) Act 1997                                                     8

Legislation Act 2003                                                                                                  12

Superannuation Guarantee (Administration) Act 1992                                     12

Taxation Administration Act 1953                                                                          12

Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016   13

Part 2—Application provisions                                                                               14

Income Tax (Transitional Provisions) Act 1997                                                   14

Schedule 2—Amendments relating to insolvency                                              16

Bankruptcy Act 1966                                                                                                 16

Corporations Act 2001                                                                                              17

 

 



A Bill for an Act to amend the law relating to taxation, superannuation, personal insolvency and corporate insolvency, and for related purposes

The Parliament of Australia enacts:

1   Short title

                   This Act is the Treasury Laws Amendment (2017 Measures No. 2) Act 2017 .

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, items 1 to 19

The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent.

 

3.  Schedule 1, item 20

The day this Act receives the Royal Assent.

 

4.  Schedule 1, item 21

The later of:

(a) the start of the day this Act receives the Royal Assent; and

(b) immediately after the commencement of the Superannuation (Objective) Act 2017 .

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

 

5.  Schedule 1, items 22 to 24

The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent.

 

6.  Schedule 1, items 25 to 28

Immediately after the commencement of Schedule 1 to the Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016 .

1 January 2017

7.  Schedule 1, Part 2

The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent.

 

8.  Schedule 2

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   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.