| Title | Tax Laws Amendment (2011 Measures No. 5) Bill 2011 |
| Database | Bills & Legislation |
| Long Title | a Bill for an Act to amend the law relating to taxation, and for related purposes |
| Date | 23-06-2011 06:30 PM |
| Source | House of Reps |
| Parl No. | 43 |
| Bill Number | 104/11 |
| Bill Type | Government |
| Portfolio | Treasury |
| Reps Bill Code | TM |
| Status | Act |
| System Id | legislation/bills/r4593_aspassed/0000 |
2010â2011
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
As passed by both Houses
Tax Laws Amendment (2011 Measures No. 5) Bill 2011
No. , 2011
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 1âPrimary producersâ income averaging and farm management deposits 3
Part 1âPrimary producersâ income averaging 3
Income Tax Assessment Act 1997 3
Part 2âFarm management deposits 6
Income Tax Assessment Act 1936 6
Income Tax Assessment Act 1997 6
Income Tax (Transitional Provisions) Act 1997 8
Part 3âApplication provision 10
Schedule 2âInterim changes to the taxation of trust income 11
Part 1âMain amendments 11
Income Tax Assessment Act 1936 11
Income Tax Assessment Act 1997 20
Part 2âConsequential amendments 33
Income Tax Assessment Act 1936 33
Income Tax Assessment Act 1997 35
Part 3âApplication provision 37
Schedule 3âNational Rental Affordability Scheme 39
Part 1âNational Rental Affordability Scheme Tax Offset 39
Division 1âNRAS consortiums 39
Income Tax Assessment Act 1997 39
Division 2âElections by NRAS approved participants 44
Income Tax Assessment Act 1997 44
Part 2âOther incentives 52
Income Tax Assessment Act 1997 52
Part 3âDefinitions 53
Income Tax Assessment Act 1997 53
Schedule 4âPhasing out the dependent spouse tax offset 55
Income Tax Assessment Act 1936 55
Income Tax Assessment Act 1997 61
Schedule 5âCar fringe benefits 62
Part 1âAmendments commencing on Royal Assent 62
Fringe Benefits Tax Assessment Act 1986 62
Part 2âAmendments commencing on 1 April 2016 65
Fringe Benefits Tax Assessment Act 1986 65
A Bill for an Act to amend the law relating to taxation, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the Tax Laws Amendment (2011 Measures No. 5) 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. Schedules 1 and 2 |
The day this Act receives the Royal Assent. |
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3. Schedule 3, Part 1, Division 1 |
The day this Act receives the Royal Assent. |
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4. Schedule 3, Part 1, Division 2 |
The day after this Act receives the Royal Assent. |
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5. Schedule 3, Parts 2 and 3 |
The day this Act receives the Royal Assent. |
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6. Schedule 4 |
The day this Act receives the Royal Assent. |
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7. Schedule 5, Part 1 |
The day this Act receives the Royal Assent. |
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8. Schedule 5, Part 2 |
1 April 2016. |
1 April 2016 |
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.