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The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
As read a third time
Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Bill 2011
No. , 2011
A Bill for an Act to amend the law relating to taxation and superannuation, and for related purposes
Contents
1............ Short title............................................................................................. 1
2............ Commencement................................................................................... 1
3............ Schedule(s)......................................................................................... 4
Schedule 1—Entrepreneurs’ tax offset 5
Income Tax Assessment Act 1997 5
Income Tax (Transitional Provisions) Act 1997 5
Taxation Administration Act 1953 5
Schedule 2—Increase to the small business instant asset write-off threshold 7
Part 1—Amendments contingent on the Minerals Resource Rent Tax 7
Income Tax Assessment Act 1997 7
Income Tax (Transitional Provisions) Act 1997 14
Part 2—Amendments contingent on the Clean Energy package 15
Income Tax Assessment Act 1997 15
Schedule 3—Small business entities’ deductions for motor vehicles 16
Income Tax Assessment Act 1997 16
Schedule 4—Low income superannuation contribution 18
Superannuation (Government Co-contribution for Low Income Earners) Act 2003 18
Schedule 5—Deduction of employer contributions to superannuation funds 22
Income Tax Assessment Act 1997 22
This Bill originated in the House of Representatives; and, having this day passed, is now ready for presentation to the Senate for its concurrence.
B.C. WRIGHT
Clerk of the House of Representatives
House of Representatives
23 November 2011 a.m.
A Bill for an Act to amend the law relating to taxation and superannuation, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Act 2011 .
(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.
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Commencement information |
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Column 1 |
Column 2 |
Column 3 |
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Provision(s) |
Commencement |
Date/Details |
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1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table |
The day this Act receives the Royal Assent. |
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2. Schedule 1 |
The day this Act receives the Royal Assent. |
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3. Schedule 2, Part 1 |
The latest of the following: (a) the day this Act receives the Royal Assent; (b) the day the Minerals Resource Rent Tax Act 2011 receives the Royal Assent; (c) the day the Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2011 receives the Royal Assent; (d) the day the Minerals Resource Rent Tax (Imposition—General) Act 2011 receives the Royal Assent; (e) the day the Minerals Resource Rent Tax (Imposition—Customs) Act 2011 receives the Royal Assent; (f) the day the Minerals Resource Rent Tax (Imposition—Excise) Act 2011 receives the Royal Assent. However, the provision(s) do not commence at all unless all the events mentioned in paragraphs (a) to (f) occur. |
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4. Schedule 2, Part 2 |
The later of: (a) immediately after the commencement of the provision(s) covered by table item 3; and (b) the start of the day the Clean Energy Act 2011 receives the Royal Assent. However, the provision(s) do not commence at all unless both of the events mentioned in paragraphs (a) and (b) occur. |
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5. Schedule 3 |
The day this Act receives the Royal Assent. |
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6. Schedule 4 |
The latest of the following: (a) the day this Act receives the Royal Assent; (b) the day the Minerals Resource Rent Tax Act 2011 receives the Royal Assent; (c) the day the Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2011 receives the Royal Assent; (d) the day the Minerals Resource Rent Tax (Imposition—General) Act 2011 receives the Royal Assent; (e) the day the Minerals Resource Rent Tax (Imposition—Customs) Act 2011 receives the Royal Assent; (f) the day the Minerals Resource Rent Tax (Imposition—Excise) Act 2011 receives the Royal Assent. However, the provision(s) do not commence at all unless all the events mentioned in paragraphs (a) to (f) occur. |
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7. Schedule 5 |
At the same time as Schedule 1 to the Superannuation Guarantee (Administration) Amendment Act 2011 commences. However, if Schedule 1 to the Superannuation Guarantee (Administration) Amendment Act 2011 does not commence, the provision(s) do not commence at all. |
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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.
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.