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Title

Tax Laws Amendment (Small Business Restructure Roll-over) Bill 2016

Database

Bills & Legislation

Long Title

a Bill for an Act to amend the law relating to taxation, and for related purposes

Date

04-02-2016 09:01 AM

Source

House of Reps

Parl No.

44

Bill Number

6/16

Bill Type

Government

Portfolio

Treasury

Reps Bill Code

T

Status

Act

System Id

legislation/bills/r5606_first-reps/0000


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Tax Laws Amendment (Small Business Restructure Roll-over) Bill 2016

2013-2014-2015-2016

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Tax Laws Amendment (Small Business Restructure Roll-over) Bill 2016

 

No.      , 2016

 

(Treasury)

 

 

 

A Bill for an Act to amend the law relating to taxation, and for related purposes

   

   

Contents

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

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

3............ Schedules............................................................................................ 2

Schedule 1—Small business restructure roll-overs                                             3

Part 1—Main amendment                                                                                            3

Income Tax Assessment Act 1997                                                                               3

Part 2—Other amendments                                                                                       10

Income Tax Assessment Act 1997                                                                             10

Part 3—Application of amendments                                                                    12

 

 

A Bill for an Act to amend the law relating to taxation, and for related purposes

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the Tax Laws Amendment (Small Business Restructure Roll-over) Act 2016 .

2   Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this Act

The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent.

 

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3   Schedules

                   Legislation 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.