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Treasury Laws Amendment (Junior Minerals Exploration Incentive) Bill 2017

2016-2017

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Treasury Laws Amendment (Junior Minerals Exploration Incentive) Bill 2017

 

No.      , 2017

 

(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—Junior minerals exploration incentive                                           3

Part 1—Main amendments                                                                                          3

Income Tax Assessment Act 1997                                                                               3

Part 2—Other amendments                                                                                       21

Income Tax Assessment Act 1936                                                                             21

Income Tax Assessment Act 1997                                                                             21

Taxation Administration Act 1953                                                                          25

Part 3—Repeal of Division 418                                                                              26

Income Tax Assessment Act 1936                                                                             26

Income Tax Assessment Act 1997                                                                             27

Taxation Administration Act 1953                                                                          29

Part 4—Application, transitional and saving provisions                             31

Division 1—Application and transitional provisions                                            31

Division 2—Saving provisions relating to repeal of Division 418                      32

Schedule 2—Amendment of the Tax and Superannuation Laws Amendment (2014 Measures No. 7) Act 2015                                                                                                                  35

Tax and Superannuation Laws Amendment (2014 Measures No. 7) Act 2015 35

 

 



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 (Junior Minerals Exploration Incentive) Act 2017.

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 after this Act receives the Royal Assent.

 

2.  Schedule 1, Parts 1 and 2

The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent.

 

3.  Schedule 1, Part 3

1 July 2023.

1 July 2023

4.  Schedule 1, Part 4, Division 1

At the same time as the provisions covered by table item 2.

 

5. Schedule 1, Part 4, Division 2

1 July 2023.

1 July 2023

6. Schedule 2

The day after 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.