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Treasury Laws Amendment (2018 Measures No. 5) Bill 2018

2016-2017-2018-2019

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

As passed by both Houses

 

 

 

 

Treasury Laws Amendment (2018 Measures No. 5) Bill 2019

 

No.      , 2019

 

 

 

 

 

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

   

   



Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Schedules............................................................................................ 2

Schedule 1—AMIT technical amendments                                                             3

Income Tax Assessment Act 1936                                                                               3

Income Tax Assessment Act 1997                                                                               3

Income Tax (Transitional Provisions) Act 1997                                                     6

Taxation Administration Act 1953                                                                            6

Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016            10

Schedule 4—Repeal of subsection 51(3) of the Competition and Consumer Act 2010    13

Competition and Consumer Act 2010                                                                    13

Schedule 5—Small business access to justice                                                        15

Australian Small Business and Family Enterprise Ombudsman Act 2015      15

Competition and Consumer Act 2010                                                                    17

 

 



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

The Parliament of Australia enacts:

1   Short title

                   This Act is the Treasury Laws Amendment (2018 Measures No. 5) Act 2019 .

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.

 

5.  Schedule 4

The day after the end of the period of 6 months beginning on the day this Act receives the Royal Assent.

 

6.   Schedule 5

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.