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New Business Tax System (Integrity Measures) Bill 2000

1998-1999-2000

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

 

 

 

 

 

New Business Tax System (Integrity Measures) Bill 2000

 

No.      , 2000

 

(Treasury)

 

 

 

A Bill for an Act to amend the law about taxation to implement the New Business Tax System, and for related purposes

   

   



Contents

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

2............ Commencement................................................................................... 1

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

Schedule 1—Losses from non-commercial business activities                     3

Income Tax Assessment Act 1997                                                                               3

Schedule 2—Deducting prepayments                                                                       12

Part 1—Expenditure on and after 11 November 1999                               12

Income Tax Assessment Act 1936                                                                             12

Part 2—2002 and later expenditure                                                                      17

Income Tax Assessment Act 1936                                                                             17

Part 3—Application provisions                                                                               18

 



A Bill for an Act to amend the law about taxation to implement the New Business Tax System, and for related purposes

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the New Business Tax System (Integrity Measures) Act 2000 .

2   Commencement

                   This Act commences on the day on which it 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                   Subject to section 2, each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.