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Income Tax (TFN Withholding Tax (ESS)) Act 2009

Authoritative Version
  • - C2013C00275
  • In force - Superseded Version
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Act No. 132 of 2009 as amended, taking into account amendments up to Income Tax (TFN Withholding Tax (ESS)) Amendment (DisabilityCare Australia) Act 2013
An Act to impose tax on certain amounts relating to employee share schemes, and for related purposes
Administered by: Treasury
Registered 18 Jun 2013
Start Date 28 May 2013
End Date 24 Jun 2014
Table of contents.

Commonwealth Coat of Arms

Income Tax (TFN Withholding Tax (ESS)) Act 2009

No. 132, 2009 as amended

Compilation start date:                     28 May 2013

Includes amendments up to:            Act No. 42, 2013

 

About this compilation

The compiled Act

This is a compilation of the Income Tax (TFN Withholding Tax (ESS)) Act 2009 as amended and in force on 28 May 2013. It includes any amendment affecting the compiled Act to that date.

This compilation was prepared on 17 June 2013.

The notes at the end of this compilation (the endnotes) include information about amending Acts and instruments and the amendment history of each amended provision.

Uncommenced provisions and amendments

If a provision of the compiled Act is affected by an uncommenced amendment, the text of the uncommenced amendment is set out in the endnotes.

Application, saving and transitional provisions for amendments

If the operation of an amendment is affected by an application, saving or transitional provision, the provision is identified in the endnotes.

Modifications

If a provision of the compiled Act is affected by a textual modification that is in force, the text of the modifying provision is set out in the endnotes.

Provisions ceasing to have effect

If a provision of the compiled Act has expired or otherwise ceased to have effect in accordance with a provision of the Act, details of the provision are set out in the endnotes.

  

  

  


Contents

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

2............ Commencement................................................................................... 1

3............ Imposition of tax................................................................................. 2

4............ Rate of tax........................................................................................... 2

Endnotes                                                                                                                                      3

Endnote 1—Legislation history                                                                               3

Endnote 2—Amendment history                                                                             4

Endnote 3—Uncommenced amendments [none]                                            5

Endnote 4—Misdescribed amendments [none]                                               6


An Act to impose tax on certain amounts relating to employee share schemes, and for related purposes

 

 

1  Short title

                   This Act may be cited as the Income Tax (TFN Withholding Tax (ESS)) Act 2009.

2  Commencement

             (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.

 

Commencement information

Column 1

Column 2

Column 3

Provision(s)

Commencement

Date/Details

1.  Sections 1 and 2 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

14 December 2009

2.  Sections 3 and 4

At the same time as Schedule 1 to the Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009 commences.

14 December 2009

Note:          This table relates only to the provisions of this Act as originally passed by both Houses of the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.

             (2)  Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.

3  Imposition of tax

                   The tax known as income tax, to the extent that that tax is payable by an entity in accordance with section 14‑155 in Schedule 1 to the Taxation Administration Act 1953, is imposed on amounts mentioned in paragraph (1)(b) of that section.

4  Rate of tax

                   The rate of tax imposed by this Act on such an amount is the sum of the following:

                     (a)  the maximum rate specified in the table in Part I of Schedule 7 to the Income Tax Rates Act 1986;

                     (b)  2%.


Endnotes

 

Endnote 1—Legislation history

This endnote sets out details of the legislation history of the Income Tax (TFN Withholding Tax (ESS)) Act 2009.

 

Act

Number and year

Assent date

Commencement
date

Application, saving and transitional provisions

Income Tax (TFN Withholding Tax (ESS)) Act 2009

132, 2009

14 Dec 2009

ss. 3 and 4: 14 Dec 2009 (see s. 2(1))
Remainder: Royal Assent

 

Income Tax (TFN Withholding Tax (ESS)) Amendment (DisabilityCare Australia) Act 2013

42, 2013

28 May 2013

Schedule 1: 28 May 2013 (see s. 2(1))
Remainder: Royal Assent

Sch. 1 (item 2)

 

Endnote 2—Amendment history

This endnote sets out the amendment history of the Income Tax (TFN Withholding Tax (ESS)) Act 2009.

 

ad. = added or inserted    am. = amended    rep. = repealed    rs. = repealed and substituted    exp. = expired or ceased to have effect

Provision affected

How affected

s. 4......................................

rs. No. 42, 2013

 

Endnote 3—Uncommenced amendments [none]

There are no uncommenced amendments.

 

Endnote 4—Misdescribed amendments [none]

There are no misdescribed amendments.