| Title | Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019 |
| Database | Bills & Legislation |
| Long Title | a Bill for an Act to amend the law relating to taxation and foreign acquisitions and takeovers, and for related purposes |
| Date | 23-10-2019 09:44 AM |
| Source | House of Reps |
| Parl No. | 46 |
| Bill Number | 209/19 |
| Bill Type | Government |
| Portfolio | Treasury |
| Reps Bill Code | T |
| Status | Act |
| System Id | legislation/bills/r6439_first-reps/0000 |
2019
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019
No. , 2019
(Treasury)
A Bill for an Act to amend the law relating to taxation and foreign acquisitions and takeovers, and for related purposes
Contents
1............ Short title............................................................................................. 1
2............ Commencement................................................................................... 1
3............ Schedules............................................................................................ 2
Schedule 1âCapital gains tax changes for foreign residents 3
Part 1âMain residence exemption 3
Income Tax Assessment Act 1997 3
Income Tax (Transitional Provisions) Act 1997 9
Part 2âPrincipal asset test 10
Income Tax Assessment Act 1997 10
Schedule 2âAdditional capital gains discount for affordable housing 11
Income Tax Assessment Act 1997 11
Schedule 3âNearânew dwelling interests 14
Part 1âAmendments 14
Foreign Acquisitions and Takeovers Act 1975 14
Part 2âApplication and transitional provisions 16
A Bill for an Act to amend the law relating to taxation and foreign acquisitions and takeovers, and for related purposes
The Parliament of Australia enacts:
This Act is the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Act 2019.
(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.
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Commencement information |
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Column 1 |
Column 2 |
Column 3 |
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Provisions |
Commencement |
Date/Details |
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1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table |
The day this Act receives the Royal Assent. |
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2. Schedules 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. |
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3. Schedule 3 |
The day after this Act receives the Royal Assent. |
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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.