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A New Tax System (Closely Held Trusts) Bill 1999

1998-99

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

 

 

 

 

 

A New Tax System (Closely Held Trusts) Bill 1999

 

No.      , 1999

 

(Treasury)

 

 

 

A Bill for an Act to implement A New Tax System by amending the income tax law in respect of certain closely held trusts, and for related purposes

   

   



Contents

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

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

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

Schedule 1—Basic amendments                                                                                     3

Income Tax Assessment Act 1936                                                                               3

Schedule 2—Consequential amendments                                                               21

Part 1—Income Tax Assessment Act 1936                                                      21

Part 2—Income Tax Assessment Act 1997                                                      25

Part 3—Superannuation Contributions Tax (Assessment and Collection) Act 1997         26

 



A Bill for an Act to implement A New Tax System by amending the income tax law in respect of certain closely held trusts, and for related purposes

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the A New Tax System (Closely Held Trusts) Act 1999 .

2   Commencement

                   This Act commences on the day on which it 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                   Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.