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Title

Treasury Laws Amendment (Enterprise Tax Plan No. 2) Bill 2017

Database

Bills & Legislation

Long Title

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

Date

11-05-2017 09:32 AM

Source

House of Reps

Parl No.

45

Bill Number

86/17

Bill Type

Government

Portfolio

Treasury

Reps Bill Code

T

Status

Not Proceeding

System Id

legislation/bills/r5867_first-reps/0000


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Treasury Laws Amendment (Enterprise Tax Plan No. 2) Bill 2017

2016-2017

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Treasury Laws Amendment (Enterprise Tax Plan No. 2) Bill 2017

 

No.      , 2017

 

(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............................................................................................ 3

Schedule 1—Reducing the corporate tax rate                                                       4

Part 1—Amendments commencing 1 July 2019                                              4

Income Tax Rates Act 1986                                                                                         4

Part 2—Amendments commencing 1 July 2020                                              5

Income Tax Rates Act 1986                                                                                         5

Part 3—Amendments commencing 1 July 2021                                              6

Income Tax Rates Act 1986                                                                                         6

Part 4—Amendments commencing 1 July 2022                                              7

Income Tax Rates Act 1986                                                                                         7

Part 5—Amendments commencing 1 July 2023                                              8

Income Tax Rates Act 1986                                                                                         8

Part 6—Amendments commencing 1 July 2024                                            10

Income Tax Rates Act 1986                                                                                       10

Part 7—Amendments commencing 1 July 2025                                            11

Income Tax Rates Act 1986                                                                                       11

Part 8—Amendments commencing 1 July 2026                                            12

Income Tax Rates Act 1986                                                                                       12

Part 9—Application of amendments                                                                    13

Schedule 2—Main consequential amendments relating to imputation 14

Part 1—Amendments commencing 1 July 2023                                            14

Income Tax Assessment Act 1997                                                                             14

Part 2—Application of amendments                                                                    18

Schedule 3—Other consequential amendments                                                  19

Part 1—Amendments commencing 1 July 2023                                            19

Income Tax Assessment Act 1936                                                                             19

Income Tax Assessment Act 1997                                                                             19

Part 2—Amendments commencing 1 July 2024                                            22

Income Tax Assessment Act 1997                                                                             22

Part 3—Amendments commencing 1 July 2025                                            24

Income Tax Assessment Act 1997                                                                             24

Part 4—Amendments commencing 1 July 2026                                            26

Income Tax Assessment Act 1997                                                                             26

Schedule 4—Other amendments                                                                                  28

Treasury Laws Amendment (Combating Multinational Tax Avoidance) Act 2017              28

Treasury Laws Amendment (Enterprise Tax Plan) Act 2017                              28

 

 

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 is the Treasury Laws Amendment (Enterprise Tax Plan No. 2) Act 2017 .

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.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

 

2.  Schedule 1, Part 1

1 July 2019.

1 July 2019

3.  Schedule 1, Part 2

1 July 2020.

1 July 2020

4.  Schedule 1, Part 3

1 July 2021.

1 July 2021

5.  Schedule 1, Part 4

1 July 2022.

1 July 2022

6.  Schedule 1, Part 5

1 July 2023.

1 July 2023

7.  Schedule 1, Part 6

1 July 2024.

1 July 2024

8.  Schedule 1, Part 7

1 July 2025.

1 July 2025

9.  Schedule 1, Part 8

1 July 2026.

1 July 2026

10.  Schedule 1, Part 9

The day this Act receives the Royal Assent.

 

11.  Schedule 2, Part 1

1 July 2023.

1 July 2023

12.  Schedule 2, Part 2

The day this Act receives the Royal Assent.

 

13.  Schedule 3, Part 1

1 July 2023.

1 July 2023

14.  Schedule 3, Part 2

1 July 2024.

1 July 2024

15.  Schedule 3, Part 3

1 July 2025.

1 July 2025

16.  Schedule 3, Part 4

1 July 2026.

1 July 2026

17.  Schedule 4, items 1 and 2

Immediately after the commencement of section 1 of the Treasury Laws Amendment (Combating Multinational Tax Avoidance) Act 2017 .

4 April 2017

18.  Schedule 4, items 3, 4 and 5

Immediately after the commencement of section 1 of the Treasury Laws Amendment (Enterprise Tax Plan) Act 2017 .

 

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.