

2013-2014-2015-2016
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
As passed by both Houses
Tax and Superannuation Laws Amendment (2015 Measures No. 6) Bill 2016
No. , 2016
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—CGT treatment of earnout rights 3
Part 1—Main amendments 3
Income Tax Assessment Act 1997 3
Part 2—Preserving small business concessions 12
Income Tax Assessment Act 1997 12
Part 3—Other consequential amendments 16
Income Tax Assessment Act 1997 16
Taxation Administration Act 1953 18
Taxation (Interest on Overpayments and Early Payments) Act 1983 20
Part 4—Application and transitional provisions 21
Part 5—Amendments relating to foreign resident capital gains withholding payments 22
Taxation Administration Act 1953 22
Schedule 2—Foreign resident capital gains withholding payments 24
Part 1—Main amendments 24
Taxation Administration Act 1953 24
Part 2—Consequential amendments 33
Income Tax Assessment Act 1936 33
Income Tax Assessment Act 1997 33
Taxation Administration Act 1953 34
Part 3—Contingent amendments 37
Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 37
A Bill for an Act to amend the law relating to taxation, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the Tax and Superannuation Laws Amendment (2015 Measures No. 6) Act 2016 .
(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 |
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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, Parts 1 to 4 |
The day after this Act receives the Royal Assent. |
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3. Schedule 1, Part 5 |
Immediately after the commencement of the provisions covered by table item 4 . |
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4. Schedule 2, Parts 1 and 2 |
The day after this Act receives the Royal Assent. |
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5. Schedule 2, Part 3 |
Immediately after the commencement of Schedule 3 to the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 . However, the provisions do not commence at all if that Schedule commences at the same time as, or before, the provisions covered by table item 4. |
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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.