Title Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Bill 2013
Database Bills & Legislation
Long Title a Bill for an Act to amend the law relating to taxation, and for related purposes
Date 25-06-2013 10:11 PM
Source House of Reps
Parl No. 43
Bill Number 14/13
Bill Type Government
Portfolio Treasury
Reps Bill Code T
Status Act
System Id legislation/bills/r4965_aspassed/0000


Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Bill 2013
</head> <body lang="EN-AU"> <div class="WordSection1"> <p class="Session">2010‑2011‑2012‑2013</p> <p class="MsoNormal"><span style="font-size:14.0pt"> </span></p> <p class="MsoNormal"><span style="font-size:14.0pt">The Parliament of the</span></p> <p class="MsoNormal"><span style="font-size:14.0pt">Commonwealth of Australia</span></p> <p class="MsoNormal"><span style="font-size:14.0pt"> </span></p> <p class="House">HOUSE OF REPRESENTATIVES</p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="Reading">As passed by both Houses</p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><a name="ConfidenceBlock"/><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="MsoNormal"><span style="font-size:9.5pt"> </span></p> <p class="ShortT">Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Bill 2013</p> <p class="MsoNormal"> </p> <p class="Actno">No.      , 2013</p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="MsoNormal"> </p> <p class="LongT">A Bill for an Act to amend the law relating to taxation, and for related purposes</p> <p class="MsoHeader"><span class="CharAmSchNo"> </span><span class="CharAmSchText"> </span></p> <p class="MsoHeader"><span class="CharAmPartNo"> </span><span class="CharAmPartText"> </span></p> </div> <span style="font-size:11.0pt;font-family:"Times New Roman","serif""><br clear="all" style="page-break-before:always"/></span> <div class="WordSection2"> <p class="MsoNormal"><span style="font-size:18.0pt">Contents</span></p> <p class="MsoToc5"><a name="BKCheck15B_1"/>1............ Short title............................................................................................. 1</p> <p class="MsoToc5">2............ Commencement................................................................................... 1</p> <p class="MsoToc5">3............ Schedule(s)......................................................................................... 2</p> <p class="MsoToc6">Schedule 1—General anti‑avoidance rules<span style="font-size:9.0pt;font-weight:normal">                                                            </span> <span style="font-size:9.0pt;font-weight:normal">3</span></p> <p class="MsoToc9">Income Tax Assessment Act 1936<span style="font-size:9.0pt; font-style:normal">                                                                             </span> <span style="font-size:9.0pt;font-style:normal">3</span></p> <p class="MsoToc9">Taxation Administration Act 1953<span style="font-size:9.0pt; font-style:normal">                                                                          </span> <span style="font-size:9.0pt;font-style:normal">6</span></p> <p class="MsoToc6">Schedule 2—Modernisation of transfer pricing rules<span style="font-size:9.0pt;font-weight:normal">                                     </span> <span style="font-size:9.0pt;font-weight:normal">7</span></p> <p class="MsoToc7">Part 1—Main amendments<span style="font-size:9.0pt">                                                                                        </span> <span style="font-size:9.0pt">7</span></p> <p class="MsoToc9">Income Tax Assessment Act 1936<span style="font-size:9.0pt; font-style:normal">                                                                             </span> <span style="font-size:9.0pt;font-style:normal">7</span></p> <p class="MsoToc9">Income Tax Assessment Act 1997<span style="font-size:9.0pt; font-style:normal">                                                                             </span> <span style="font-size:9.0pt;font-style:normal">7</span></p> <p class="MsoToc9">Taxation Administration Act 1953<span style="font-size:9.0pt; font-style:normal">                                                                        </span> <span style="font-size:9.0pt;font-style:normal">21</span></p> <p class="MsoToc7">Part 2—Other amendments<span style="font-size:9.0pt">                                                                                     </span> <span style="font-size:9.0pt">27</span></p> <p class="MsoToc9">Income Tax Assessment Act 1936<span style="font-size:9.0pt; font-style:normal">                                                                           </span> <span style="font-size:9.0pt;font-style:normal">27</span></p> <p class="MsoToc9">Income Tax Assessment Act 1997<span style="font-size:9.0pt; font-style:normal">                                                                           </span> <span style="font-size:9.0pt;font-style:normal">28</span></p> <p class="MsoToc9">Taxation Administration Act 1953<span style="font-size:9.0pt; font-style:normal">                                                                        </span> <span style="font-size:9.0pt;font-style:normal">32</span></p> <p class="MsoToc7">Part 3—Application<span style="font-size:9.0pt">                                                                                                    </span> <span style="font-size:9.0pt">34</span></p> <p class="MsoToc9">Income Tax (Transitional Provisions) Act 1997<span style="font-size:9.0pt;font-style:normal">                                                 </span> <span style="font-size:9.0pt;font-style:normal">34</span></p> <p class="MsoToc7">Part 4—Minor amendments relating to treaty‑equivalent transfer pricing rules<span style="font-size:9.0pt"> </span> <span style="font-size:9.0pt">36</span></p> <p class="MsoToc9">Income Tax Assessment Act 1997<span style="font-size:9.0pt; font-style:normal">                                                                           </span> <span style="font-size:9.0pt;font-style:normal">36</span></p> <p class="MsoToc9">Taxation Administration Act 1953<span style="font-size:9.0pt; font-style:normal">                                                                        </span> <span style="font-size:9.0pt;font-style:normal">36</span></p> <p class="MsoNormal"> </p> </div> <span style="font-size:11.0pt;font-family:"Times New Roman","serif""><br clear="all" style="page-break-before:always"/></span> <div class="WordSection3"> <p class="Page1">A Bill for an Act to amend the law relating to taxation, and for related purposes</p> <p class="MsoNormal" style="margin-top:12.0pt;line-height:normal"> <span style="font-size:16.0pt">The Parliament of Australia enacts:</span></p> <opc-section depth="0" ref="d23af2bfa866437f96762b04d7fee507" title="1  Short title"><a name="d23af2bfa866437f96762b04d7fee507"/><p class="ActHead5"><a name="_Toc360011064"><span class="CharSectno">1</span>  Short title</a></p> <p class="subsection">                    This Act may be cited as the <i>Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Act 2013</i>.</p> </opc-section><opc-section depth="0" ref="ccc573312d594c1fbb46301d563d8e4d" title="2  Commencement"><a name="ccc573312d594c1fbb46301d563d8e4d"/><p class="ActHead5"><a name="_Toc360011065"><span class="CharSectno">2</span>  Commencement</a></p> <p class="subsection">              (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.</p> <p class="Tabletext"> </p> <table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" width="474" style="margin-left:5.35pt;border-collapse:collapse"> <thead> <tr style="page-break-inside:avoid"> <td width="474" colspan="3" valign="top" style="width:355.55pt;border:none; border-top:solid windowtext 1.5pt;padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext" style="page-break-after:avoid"><b>Commencement information</b></p> </td> </tr> <tr style="page-break-inside:avoid"> <td width="113" valign="top" style="width:3.0cm;border-top:solid windowtext 1.0pt; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext" style="page-break-after:avoid"><b>Column 1</b></p> </td> <td width="255" valign="top" style="width:191.4pt;border-top:solid windowtext 1.0pt; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext" style="page-break-after:avoid"><b>Column 2</b></p> </td> <td width="105" valign="top" style="width:79.1pt;border-top:solid windowtext 1.0pt; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext" style="page-break-after:avoid"><b>Column 3</b></p> </td> </tr> <tr style="page-break-inside:avoid"> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext" style="page-break-after:avoid"> <b>Provision(s)</b></p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom: solid windowtext 1.5pt;padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext" style="page-break-after:avoid"> <b>Commencement</b></p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext" style="page-break-after:avoid"> <b>Date/Details</b></p> </td> </tr> </thead> <tr style="page-break-inside:avoid"> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">1.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">The day this Act receives the Royal Assent.</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext"> </p> </td> </tr> <tr style="page-break-inside:avoid"> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">2.  Schedule 1</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">The day this Act receives the Royal Assent.</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext"> </p> </td> </tr> <tr style="page-break-inside:avoid"> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">3.  Schedule 2, Parts 1 to 3</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">The day this Act receives the Royal Assent.</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.0pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext"> </p> </td> </tr> <tr style="page-break-inside:avoid"> <td width="113" valign="top" style="width:3.0cm;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">4.  Schedule 2, Part 4</p> </td> <td width="255" valign="top" style="width:191.4pt;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">Immediately after the commencement of the <i>Tax Laws Amendment (Cross‑Border Transfer Pricing) Act (No. 1) 2012</i>.</p> </td> <td width="105" valign="top" style="width:79.1pt;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 5.35pt 0cm 5.35pt"> <p class="Tabletext">8 September 2012</p> </td> </tr> </table> <p class="notetext"><span style="layout-grid-mode:line">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.</span></p> <p class="subsection">              (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.</p> </opc-section><opc-section depth="0" ref="8d43bc258d5a43d59bbaa609cee89d87" title="3  Schedule(s)"><a name="8d43bc258d5a43d59bbaa609cee89d87"/><p class="ActHead5"><a name="_Toc360011066"><span class="CharSectno">3</span>  Schedule(s)</a></p> <p class="subsection">                    Each Act 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.</p> </opc-section><?DMS-Include seriesId="fce4f3f6-8887-4bba-9b34-c2316d678ac1"?><?DMS-Include seriesId="928c2025-4c25-436e-b64a-52092e92e682"?></div> </body> </div></div></body></html>