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- Schedule 1—Amendment of fringe benefits tax legislation
- Schedule 2—Amendment of the Income Tax Assessment Act 1936
- Schedule 3—Effect of fringe benefits on higher education contributions
- Schedule 4—Effect of fringe benefits on Medicare levy
- Schedule 5—Effect of fringe benefits on superannuation surcharge
1998
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
A New Tax System (Fringe Benefits Reporting) Bill 1998
No. , 1998
(Treasury)
A Bill for an Act to implement A New Tax System by providing for employees’ fringe benefits to be taken into account in working out their tax, higher education contributions and child support payments, and for related purposes
Contents
1............ Short title............................................................................................. 1
2............ Commencement................................................................................... 2
3............ Schedule(s)......................................................................................... 2
Schedule 1—Amendment of fringe benefits tax legislation 3
Fringe Benefits Tax Assessment Act 1986 3
Fringe Benefits Tax (Application to the Commonwealth) Act 1986 15
Schedule 2—Amendment of the Income Tax Assessment Act 1936 17
Part 1—Reporting reportable fringe benefits amounts and totals 17
Division 1—Reporting on group certificates 17
Division 2—Returns of reportable fringe benefits totals 22
Part 2—Effect of fringe benefits on deductions for superannuation contributions 23
Part 3—Effect of fringe benefits on rebate for personal superannuation contributions 24
Part 4—Effect of fringe benefits on rebate for contributions to spouse’s superannuation 25
Part 5—Medicare levy surcharge on reportable fringe benefits total 26
Schedule 3—Effect of fringe benefits on higher education contributions 28
Higher Education Funding Act 1988 28
Schedule 4—Effect of fringe benefits on Medicare levy 30
Medicare Levy Act 1986 30
Schedule 5—Effect of fringe benefits on superannuation surcharge 32
Superannuation Contributions Tax (Assessment and Collection) Act 1997 32
Superannuation Contributions Tax (Members of Constitutionally Protected Funds) Assessment and Collection Act 1997 32
A Bill for an Act to implement A New Tax System by providing for employees’ fringe benefits to be taken into account in working out their tax, higher education contributions and child support payments, and for related purposes
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the A New Tax System (Fringe Benefits Reporting) Act 1998 .
2 Commencement
(1) This Act commences on the day on which it receives the Royal Assent.
(2) However, item 13 of Schedule 2 commences on the 28th day after the day on which this Act receives the Royal Assent.
3 Schedule(s )
Subject to section 2, each Act 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.