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Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016

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8135

2016-2017

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

 

 

Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016

 

 

(1)     Clause 2, pages 2 and 3 (table items 7 to 12, table item 22 and table items 25 to 29), to be opposed .

[small business tax rates]

(2)     Schedule  1 , Parts  2 to 11 , page 6 (line 1) to page 17 (line 18) , omit the Parts, substitute:

Part 2 Amendments commencing 1 July 2017

Income Tax Rates Act 1986

7  Paragraph 23(2)(a)

Omit “27.5%”, substitute “26.5%”.

8  Subparagraph 23(3)(b)(i)

Omit “27.5%”, substitute “26.5%”.

9  Subparagraph 23(4)(c)(i)

Omit “27.5%”, substitute “26.5%”.

10  Paragraph 25(a)

Omit “27.5%”, substitute “26.5%”.

Part 3 Amendments commencing 1 July 2018

Income Tax Rates Act 1986

11  Paragraph 23(2)(a)

Omit “26.5%”, substitute “25.5%”.

12  Subparagraph 23(3)(b)(i)

Omit “26.5%”, substitute “25.5%”.

13  Subparagraph 23(4)(c)(i)

Omit “26.5%”, substitute “25.5%”.

14  Paragraph 25(a)

Omit “26.5%”, substitute “25.5%”.

Part 4 Amendments commencing 1 July 2019

Income Tax Rates Act 1986

15  Paragraph 23(2)(a)

Omit “25.5%”, substitute “24.5%”.

16  Subparagraph 23(3)(b)(i)

Omit “25.5%”, substitute “24.5%”.

17  Subparagraph 23(4)(c)(i)

Omit “25.5%”, substitute “24.5%”.

18  Paragraph 25(a)

Omit “25.5%”, substitute “24.5%”.

Part 5 Amendments commencing 1 July 2020

Income Tax Rates Act 1986

19  Paragraph 23(2)(a)

Omit “24.5%”, substitute “23.5%”.

20  Subparagraph 23(3)(b)(i)

Omit “24.5%”, substitute “23.5%”.

21  Subparagraph 23(4)(c)(i)

Omit “24.5%”, substitute “23.5%”.

22  Paragraph 25(a)

Omit “24.5%”, substitute “23.5%”.

[small business tax rates]

(3)     Schedule 1 , item 57 , page 18 (line 12) , omit “ subitems ”, substitute “ subitem ”.

[small business tax rates]

(4)     Schedule 1 , item 57 , page 18 (line 15) , omit “Subject to the following subitems, the”, substitute “ The ”.

[small business tax rates]

(5)     Schedule  1 , item  57 , page 18 (line 18) to page 19 (line 2) , subitems ( 6 ) to ( 11 ), to be opposed .

[small business tax rates]

(6)     Schedule  4 , Part  2 , page 36 (line 1) to page 39 (line 19) , to be opposed .

[small business tax rates]

(7)     Schedule 4, item 58, page 40 (line 3), omit “(1) Subject to the following subitem, the”, substitute “The”.

[small business tax rates]

(8)     Schedule 4, item 58, page 40 (lines 5 and 6), subitem 58(2), to be opposed .

[small business tax rates]

(9)     Schedule  5 , Parts  2 to 6 , page 42 (line 1) to page 51 (line 29) , to be opposed .

[small business tax rates]