2004-2005
The Parliament of the
Commonwealth of Australia
THE SENATE
Presented and read a first time
Taxation Laws Amendment (Scholarships) Bill 2005
No. , 2005
(Senator Stott Despoja)
A Bill for an Act to amend the Income Tax Assessment Act 1997, the Social Security Act 1991 and the Veterans’ Entitlements Act 1986, and for related purposes
Contents
1............ Short title............................................................................................ 1
2............ Commencement.................................................................................. 1
3............ Objects................................................................................................ 2
4............ Schedule(s).......................................................................................... 2
Schedule 1—Amendment of the Income Tax Assessment Act 1997 3
Schedule 2—University Equity Scholarships 4
Social Security Act 1991 4
Veterans’ Entitlements Act 1986 4
A Bill for an Act to amend the Income Tax Assessment Act 1997, the Social Security Act 1991 and the Veterans’ Entitlements Act 1986, and for related purposes
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Taxation Laws Amendment (Scholarships) Act 2005.
2 Commencement
This Act commences on the day on which it receives the Royal Assent.
3 Objects
The objects of this Act are:
(a) to abolish the distinction between full-time and part-time scholarships and make all scholarships which satisfy the other criteria in the existing provisions tax free; and
(b) to remove the structural barriers to education, of particular concern to women, that taxing part-time scholarships cause; and
(c) to abolish the distinction between Commonwealth Learning Scholarships and university-based scholarships by making a new class of university scholarships, exempt from the social security personal income test.
4 Schedule(s)
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Amendment of the Income Tax Assessment Act 1997
1 Section 51-10 (table item 2.1A, second column)
Omit “full-time”.
2 Section 51-35 (heading)
Omit “full-time”.
3. Section 51-35
Omit “full-time”.
Schedule 2—University Equity Scholarships
Social Security Act 1991
1 After subparagraph 8(8)(zja)(ii)
Insert:
or (iii) a scholarship known as a University Equity Scholarship;
Veterans’ Entitlements Act 1986
2 After subparagraph 5H(8)(hb)(ii)
Insert:
or (iii) a scholarship known as a University Equity Scholarship;