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Taxation Laws Amendment Bill (No. 10) 1999
1998-99

1998-99

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

 

 

 

 

 

Taxation Laws Amendment Bill (No. 10) 1999

 

No.      , 1999

 

(Treasury)

 

 

 

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

Schedule 1—Restructuring of certain managed investment schemes     3

Income Tax (Transitional Provisions) Act 1997                                                     3

Schedule 2—Film licensed investment companies                                               4

Film Licensed Investment Company Act 1998                                                        4

Income Tax Assessment Act 1936                                                                               4

Income Tax Assessment Act 1997                                                                               4

Schedule 3—Income tax deductions for gifts etc.                                                6

Income Tax Assessment Act 1997                                                                               6

Schedule 4—Cyclones Elaine and Vance Trust Account                               7

Schedule 5—Mining and quarrying: balancing adjustments                       8

Income Tax Assessment Act 1997                                                                               8

Schedule 6—Transfer of interest in petroleum projects                                 9

Petroleum Resource Rent Tax Assessment Act 1987                                              9

 



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 Taxation Laws Amendment Act (No. 10) 1999 .

2   Commencement

             (1)  Subject to this section, this Act commences on the day on which it receives the Royal Assent.

             (2)  Schedule 1 is taken to have commenced immediately after the Taxation Laws Amendment Act (No. 7) 1999 received the Royal Assent.

             (3)  Schedule 2 is taken to have commenced on 7 December 1998.

3   Schedule(s)

                   Subject to section 2, 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.