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Title

Tax Laws Amendment (Small Business Measures No. 1) Bill 2015

Database

Bills & Legislation

Long Title

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

Date

15-06-2015 11:16 AM

Source

House of Reps

Parl No.

44

Bill Number

78/15

Bill Type

Government

Portfolio

Treasury

Reps Bill Code

T

Status

Act

System Id

legislation/bills/r5465_aspassed/0000


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Tax Laws Amendment (Small Business Measures No. 1) Bill 2015

2013-2014-2015

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

As passed by both Houses

 

 

 

 

Tax Laws Amendment (Small Business Measures No. 1) Bill 2015

 

No.      , 2015

 

 

 

 

 

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—Amendments                                                                                                 3

Part 1—Reducing the corporate tax rate for small business entities      3

Income Tax Rates Act 1986                                                                                         3

Part 2—Consequential amendments                                                                       5

Division 1—Main amendments                                                                                 5

Income Tax Assessment Act 1936                                                                               5

Income Tax Assessment Act 1997                                                                               5

Income Tax Rates Act 1986                                                                                         9

Division 2—Amendment of the Tax and Superannuation Laws Amendment (2015 Measures No. 1) Act 2015         9

Tax and Superannuation Laws Amendment (2015 Measures No. 1) Act 2015 9

Part 3—Application of amendments                                                                    10

 

 

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 may be cited as the Tax Laws Amendment (Small Business Measures No. 1) Act 2015 .

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

The day this Act receives the Royal Assent.

 

3.  Schedule 1, Part 2, Division 1

The day this Act receives the Royal Assent.

 

4.  Schedule 1, Part 2, Division 2

Immediately after the commencement of Division 1 of Part 2 of Schedule 1 to the Tax and Superannuation Laws Amendment (2015 Measures No. 1) Act 2015 .

However, if that Division commences before the day this Act receives the Royal Assent, the provisions do not commence at all.

 

5.  Schedule 1, Part 3

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.