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New Business Tax System (Capital Allowances—Transitional and Consequential) Bill 2001

 

 

 

 

New Business Tax System (Capital Allowances—Transitional and Consequential) Act 2001

 

No. 77, 2001



 

 

 

 

New Business Tax System (Capital Allowances—Transitional and Consequential) Act 2001

 

No. 77, 2001

 

 

 

 

An Act to implement the New Business Tax System by amending the law relating to taxation, and for related purposes

   

   



Contents

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

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

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

Schedule 1—Transitional provisions                                                                             3

Income Tax (Transitional Provisions) Act 1997                                                    3

Schedule 2—General consequential amendments                                              33

Airports (Transitional) Act 1996                                                                            33

A New Tax System (Goods and Services Tax) Act 1999                                      36

A New Tax System (Luxury Car Tax) Act 1999                                                     37

Bounty and Capitalisation Grants (Textile Yarns) Act 1981                            37

Bounty (Computers) Act 1984                                                                                 37

Bounty (Machine Tools and Robots) Act 1985                                                    38

Defence Act 1903                                                                                                        38

Income Tax Assessment Act 1936                                                                             38

Income Tax Assessment Act 1997                                                                             66

Income Tax Rates Act 1986                                                                                     139

Social Security Act 1991                                                                                         139

Veterans’ Entitlements Act 1986                                                                           140

Schedule 3—Taxation Laws Amendment Act (No. 1) 2001                         142

Taxation Laws Amendment Act (No. 1) 2001                                                      142

 



New Business Tax System (Capital Allowances—Transitional and Consequential) Act 2001

No. 77, 2001

 

 

 

An Act to implement the New Business Tax System by amending the law relating to taxation, and for related purposes

[ Assented to 30 June 2001 ]

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the New Business Tax System (Capital Allowances—Transitional and Consequential) Act 2001 .

2   Commencement

             (1)  Subject to subsection (2), this Act commences on the day on which it receives the Royal Assent.

             (2)  Schedule 3 commences, or is taken to have commenced, just after the commencement of the Taxation Laws Amendment Act (No. 1) 2001 .

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.