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A New Tax System (Fringe Benefits Reporting) Bill 1998

 

 

 

 

A New Tax System (Fringe Benefits Reporting) Act 1999

 

No. 17, 1999



 

 

 

 

A New Tax System (Fringe Benefits Reporting) Act 1999

 

No. 17, 1999

 

 

 

 

An Act to implement A New Tax System by providing for employees’ fringe benefits to be taken into account in working out their tax, higher education contributions and child support payments, and for related purposes

   

   



Contents

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

2............ Commencement.................................................................................. 2

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

Schedule 1—Amendment of fringe benefits tax legislation                             3

Fringe Benefits Tax Assessment Act 1986                                                                3

Fringe Benefits Tax (Application to the Commonwealth) Act 1986                14

Schedule 2—Amendment of the Income Tax Assessment Act 1936        16

Part 1—Reporting reportable fringe benefits amounts and totals                  16

Division 1—Reporting on group certificates                                                          16

Division 2—Returns of reportable fringe benefits totals                                      21

Part 2—Effect of fringe benefits on deductions for superannuation contributions         22

Part 3—Effect of fringe benefits on rebate for personal superannuation contributions                23

Part 4—Effect of fringe benefits on rebate for contributions to spouse’s superannuation          24

Part 5—Medicare levy surcharge on reportable fringe benefits total           25

Schedule 3—Effect of fringe benefits on higher education contributions 27

Higher Education Funding Act 1988                                                                     27

Schedule 4—Effect of fringe benefits on Medicare levy                                 29

Medicare Levy Act 1986                                                                                            29

Schedule 5—Effect of fringe benefits on superannuation surcharge        31

Superannuation Contributions Tax (Assessment and Collection) Act 1997 31

Superannuation Contributions Tax (Members of Constitutionally Protected Funds) Assessment and Collection Act 1997                                                                                                                                        31

 



A New Tax System (Fringe Benefits Reporting) Act 1999

No. 17, 1999

 

 

 

An Act to implement A New Tax System by providing for employees’ fringe benefits to be taken into account in working out their tax, higher education contributions and child support payments, and for related purposes

[ Assented to 19 April 1999 ]

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the A New Tax System (Fringe Benefits Reporting) Act 1999 .

2   Commencement

             (1)  This Act commences on the day on which it receives the Royal Assent.

             (2)  However, item 14 of Schedule 2 commences on the 28th day after the day on which this Act receives the Royal Assent.

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.



 



[ Minister’s second reading speech made in—

House of Representatives on 2 December 1998

Senate on 10 December 1998 ]

 

 

 

 

 

(207/98)