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Taxation Laws Amendment Bill (No. 5) 2001

 

 

 

 

Taxation Laws Amendment Act (No. 5) 2001

 

No. 168, 2001



 

 

 

 

Taxation Laws Amendment Act (No. 5) 2001

 

No. 168, 2001

 

 

 

 

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

4............ Amendment of assessments............................................................... 2

Schedule 1—Religious practitioners                                                                             3

A New Tax System (Australian Business Number) Act 1999                                3

A New Tax System (Goods and Services Tax) Act 1999                                        4

Fringe Benefits Tax Assessment Act 1986                                                                5

Income Tax Assessment Act 1997                                                                               6

Taxation Administration Act 1953                                                                            8

Schedule 2—Change in status of constitutionally protected superannuation funds               10

Income Tax Assessment Act 1936                                                                             10

Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997                                                                                                   11

Schedule 3—CGT event E4                                                                                             13

Income Tax Assessment Act 1997                                                                             13

Schedule 4—Gifts or contributions                                                                              20

Income Tax Assessment Act 1997                                                                             20

Schedule 5—Information and communications technology etc.                   25

Fringe Benefits Tax Assessment Act 1986                                                              25

Income Tax Assessment Act 1997                                                                             25

 



Taxation Laws Amendment Act (No. 5) 2001

No. 168, 2001

 

 

 

An Act to amend the law relating to taxation, and for related purposes

[ Assented to 1 October 2001 ]

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the Taxation Laws Amendment Act (No. 5) 2001 .

2   Commencement

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

             (2)  Schedule 2 is taken to have commenced on 1 July 2000.

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.

4   Amendment of assessments

                   Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment made before the commencement of this section for the purposes of giving effect to this Act.



 



[ Minister’s second reading speech made in—

House of Representatives on 23 August 2001

Senate on 26 September 2001 ]

 

(163/01)