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Treasury Laws Amendment (Timor Sea Maritime Boundaries Treaty) Bill 2019

2019

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

As passed by both Houses

 

 

 

 

Treasury Laws Amendment (Timor Sea Maritime Boundaries Treaty) Bill 2019

 

No.      , 2019

 

 

 

 

 

A Bill for an Act to amend the law relating to taxation and to implement the Timor Sea Maritime Boundaries Treaty, and for related purposes

   

   



Contents

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

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

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

Schedule 1—Main amendments                                                                                     3

Income Tax Assessment Act 1997                                                                               3

Schedule 2—Other amendments                                                                                  18

A New Tax System (Goods and Services Tax) Act 1999                                       18

Fringe Benefits Tax Assessment Act 1986                                                              18

Income Tax Assessment Act 1936                                                                             18

Income Tax Assessment Act 1997                                                                             19

Petroleum (Timor Sea Treaty) Act 2003                                                                 21

Taxation (Interest on Overpayments and Early Payments) Act 1983               21

 

 



A Bill for an Act to amend the law relating to taxation and to implement the Timor Sea Maritime Boundaries Treaty, and for related purposes

The Parliament of Australia enacts:

1   Short title

                   This Act is the Treasury Laws Amendment (Timor Sea Maritime Boundaries Treaty) Act 2019 .

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.  Schedules 1 and 2

The day the Treaty between Australia and the Democratic Republic of Timor-Leste Establishing their Maritime Boundaries in the Timor Sea done at New York on 6 March 2018 enters into force for Australia.

 

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.