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Treasury Laws Amendment (Tax Integrity and Other Measures No. 2) Bill 2018

2016-2017-2018

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

As read a third time

 

 

 

 

Treasury Laws Amendment (Tax Integrity and Other Measures No. 2) Bill 2018

 

No.      , 2018

 

 

 

 

 

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—OECD Hybrid Mismatch Rules                                                        3

Part 1—Main amendments                                                                                          3

Income Tax Assessment Act 1997                                                                               3

Part 2—Other amendments                                                                                       74

Income Tax Assessment Act 1936                                                                             74

Income Tax Assessment Act 1997                                                                             78

Part 3—Application and transitional provisions                                             83

Income Tax (Transitional Provisions) Act 1997                                                   83

Schedule 2—Other effects of foreign income tax deductions                     85

Part 1—Denial of imputation benefits                                                                 85

Income Tax Assessment Act 1997                                                                             85

Part 2—Foreign equity distributions                                                                    86

Income Tax Assessment Act 1936                                                                             86

Income Tax Assessment Act 1997                                                                             86

Part 3—Application                                                                                                      88

Schedule 3—Strengthening the integrity of the film producer offset   90

Income Tax Assessment Act 1997                                                                             90

Schedule 4—Income tax and withholding exemptions for the ICC World Twenty20     91

Income Tax Assessment Act 1936                                                                             91

Income Tax Assessment Act 1997                                                                             91

Schedule 5—Deductible gift recipients                                                                     92

Income Tax Assessment Act 1997                                                                             92



This Bill originated in the House of Representatives; and, having this day passed, is now ready for presentation to the Senate for its concurrence.

D. R. ELDER

Clerk of the House of Representatives

House of Representatives

25 June 2018

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 is the Treasury Laws Amendment (Tax Integrity and Other Measures No. 2) Act 2018 .

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.  The whole of this Act

The first 1 January, 1 April, 1 July or 1 October to occur after 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.