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Title

Schedule 1—Amendments

Database

Bills & Legislation

Long Title

a Bill for an Act to amend the Income Tax Rates Act 1986

Date

03-04-2019 09:12 PM

Source

House of Reps

Parl No.

45

Bill Number

201/18

Bill Type

Government

Portfolio

Treasury

Reps Bill Code

T

Status

Act

System Id

legislation/bills/r6191_aspassed/0001


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Schedule 1—Amendments

Schedule 1 — Amendments

   

Income Tax Rates Act 1986

1  Subsection 3(1)

Insert:

sovereign entity has the same meaning as in the Income Tax Assessment Act 1997 .

2  Part III (heading)

Omit “ and certain other trusts ”, substitute “ , certain other trusts and sovereign entities ”.

3  After section 29

Insert:

30   Rate of tax payable by sovereign entities

                   The rate of tax payable in respect of the taxable income of a sovereign entity is 30%, unless another provision of this Part sets the rate of tax in respect of that taxable income.

(201/18)