Federal Register of Legislation - Australian Government

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Family Trust Distribution Tax (Primary Liability) Act 1998

  • - C2004A05323
  • In force - Superseded Version
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Act No. 10 of 1998 as made
An Act to impose a tax on certain distributions etc. by trusts, partnerships and companies
Administered by: Treasury
Date of Assent 06 Apr 1998

 

 

 

 

Family Trust Distribution Tax (Primary Liability) Act 1998

 

No. 10, 1998

 

 

 

 

  

  

  


 

 

 

 

Family Trust Distribution Tax (Primary Liability) Act 1998

 

No. 10, 1998

 

 

 

 

An Act to impose a tax on certain distributions etc. by trusts, partnerships and companies

  

  

  


Contents

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

2............ Commencement..................................................................................

3............ Imposition of tax................................................................................

4............ Amount of tax.....................................................................................


Family Trust Distribution Tax (Primary Liability) Act 1998

No. 10, 1998

 

 

 

An Act to impose a tax on certain distributions etc. by trusts, partnerships and companies

[Assented to 6 April 1998]

The Parliament of Australia enacts:

1  Short title

                   This Act may be cited as the Family Trust Distribution Tax (Primary Liability) Act 1998.

2  Commencement

                   This Act commences on the day on which it receives the Royal Assent.

3  Imposition of tax

                   Tax payable under section 271-15, 271-20, 271-25, 271-30 or 271‑55 of Schedule 2F to the Income Tax Assessment Act 1936 on the amount or value of income or capital is imposed.

4  Amount of tax

                   The amount of the tax imposed by this Act is 48.5% of the amount or value of the income or capital.

  

 

 

(177/97)

[Minister's second reading speech made in

House of Representatives on 1 October 1997

Senate on 27 October 1997 ]