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Bill
- Schedule 1—Fringe benefits tax exemption to support retraining and reskilling
- Schedule 2—Junior minerals exploration incentive extension
- Schedule 3—Exempting granny flat arrangements from CGT
- Schedule 4—Amendments to product intervention regime
- Schedule 5—New Zealand sports teams members and support staff
- Schedule 6—Low and Middle Income tax offset
2019-2020-2021
The Parliament of the
Commonwealth of Australia
As passed by both Houses
Treasury Laws Amendment (2021 Measures No. 4) Bill 2021
No. , 2021
Contents
1............ Short title............................................................................................. 1
2............ Commencement................................................................................... 1
3............ Schedules............................................................................................ 2
Schedule 1—Fringe benefits tax exemption to support retraining and reskilling 3
Fringe Benefits Tax Assessment Act 1986 3
Schedule 2—Junior minerals exploration incentive extension 5
Income Tax Assessment Act 1997 5
Treasury Laws Amendment (Junior Minerals Exploration Incentive) Act 2018 7
Schedule 3—Exempting granny flat arrangements from CGT 9
Income Tax Assessment Act 1997 9
Income Tax (Transitional Provisions) Act 1997 12
Schedule 4—Amendments to product intervention regime 14
Corporations Act 2001 14
National Consumer Credit Protection Act 2009 14
Schedule 5—New Zealand sports teams members and support staff 15
International Tax Agreements Act 1953 15
Schedule 6—Low and Middle Income tax offset 17
Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020 17
A Bill for an Act to amend the law relating to taxation, corporations and consumer credit, and for related purposes
The Parliament of Australia enacts:
This Act is the Treasury Laws Amendment (2021 Measures No. 4) Act 2021 .
(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.
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Commencement information |
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Column 1 |
Column 2 |
Column 3 |
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Provisions |
Commencement |
Date/Details |
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1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table |
The day this Act receives the Royal Assent. |
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2. Schedule 1 |
The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent. |
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3. Schedule 2 |
The later of: (a) 1 July 2021; and (b) the day after this Act receives the Royal Assent. |
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4. Schedule 3 |
The first 1 July to occur after the day this Act receives the Royal Assent. |
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5. Schedules 4 and 5 |
The day after this Act receives the Royal Assent. |
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6. Schedule 6 |
Immediately after the commencement of section 1 of the Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020 . |
14 October 2020 |
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.
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.