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Title

Treasury Laws Amendment (Tax Concession for Australian Medical Innovations) Bill 2022

Database

Bills & Legislation

Long Title

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

Date

10-02-2022 11:21 AM

Source

House of Reps

Parl No.

46

Bill Number

9/22

Bill Type

Government

Portfolio

Treasury

Reps Bill Code

T

Status

Not Proceeding

System Id

legislation/bills/r6838_first-reps/0000


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Treasury Laws Amendment (Tax Concession for Australian Medical Innovations) Bill 2022

2019-2020-2021-2022

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Treasury Laws Amendment (Tax Concession for Australian Medical Innovations) Bill 2022

 

No.      , 2022

 

(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—Patent box                                                                                                      3

Part 1—Main amendments                                                                                          3

Income Tax Assessment Act 1997                                                                              3

Part 2—Other amendments                                                                                       12

Income Tax Assessment Act 1997                                                                            12

Part 3—Application and transitional provisions                                            13

Income Tax (Transitional Provisions) Act 1997                                                   13

 

 

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 (Tax Concession for Australian Medical Innovations) Act 2022 .

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

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.