Taxation (Trustee Beneficiary Non‑disclosure Tax) Act (No. 2) 2007
No. 145, 2007 as amended
Compilation start date: 25 June 2014
Includes amendments up to: Act No. 55, 2014
About this compilation
This compilation
This is a compilation of the Taxation (Trustee Beneficiary Non-disclosure Tax) Act (No. 2) 2007 as in force on 25 June 2014. It includes any commenced amendment affecting the legislation to that date.
This compilation was prepared on 3 July 2014.
The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of each amended provision.
Uncommenced amendments
The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in the endnotes.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Modifications
If a provision of the compiled law is affected by a modification that is in force, details are included in the endnotes.
Provisions ceasing to have effect
If a provision of the compiled law has expired or otherwise ceased to have effect in accordance with a provision of the law, details are included in the endnotes.
Contents
1............ Short title............................................................................................. 1
2............ Commencement................................................................................... 1
3............ Imposition of trustee beneficiary non‑disclosure tax........................... 2
4............ Rate of trustee beneficiary non‑disclosure tax..................................... 2
5............ Temporary budget repair levy............................................................. 2
Endnotes 3
Endnote 1—About the endnotes 3
Endnote 2—Abbreviation key 5
Endnote 3—Legislation history 6
Endnote 4—Amendment history 7
Endnote 5—Uncommenced amendments [none] 8
Endnote 6—Modifications [none] 8
Endnote 7—Misdescribed amendments [none] 8
Endnote 8—Miscellaneous [none] 8
An Act to impose trustee beneficiary non‑disclosure tax, and for related purposes
1 Short title
This Act may be cited as the Taxation (Trustee Beneficiary Non‑disclosure Tax) Act (No. 2) 2007.
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 on which this Act receives the Royal Assent. | 24 September 2007 |
| 2. Sections 3 and 4 | At the same time as Schedule 4 to the Tax Laws Amendment (2007 Measures No. 4) Act 2007 commences. | 24 September 2007 |
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 trustee beneficiary non‑disclosure tax
Tax payable under paragraph 102UM(2)(a) of the Income Tax Assessment Act 1936 is imposed on the amount mentioned in that paragraph.
4 Rate of trustee beneficiary non‑disclosure tax
The rate of tax imposed by this Act on the amount is 47%.
5 Temporary budget repair levy
(1) This section applies to the temporary budget repair levy years.
(2) Increase the rate of tax mentioned in section 4 by 2 percentage points.
(3) In this section:
temporary budget repair levy year means a year of income corresponding to a temporary budget repair levy year (within the meaning of section 4‑11 of the Income Tax (Transitional Provisions) Act 1997).
Endnotes
Endnote 1—About the endnotes
The endnotes provide details of the history of this legislation and its provisions. The following endnotes are included in each compilation:
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
Endnote 5—Uncommenced amendments
Endnote 6—Modifications
Endnote 7—Misdescribed amendments
Endnote 8—Miscellaneous
If there is no information under a particular endnote, the word “none” will appear in square brackets after the endnote heading.
Abbreviation key—Endnote 2
The abbreviation key in this endnote sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history—Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended the compiled law. The information includes commencement information for amending laws and details of application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision level. It also includes information about any provisions that have expired or otherwise ceased to have effect in accordance with a provision of the compiled law.
Uncommenced amendments—Endnote 5
The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in endnote 5.
Modifications—Endnote 6
If the compiled law is affected by a modification that is in force, details of the modification are included in endnote 6.
Misdescribed amendments—Endnote 7
An amendment is a misdescribed amendment if the effect of the amendment cannot be incorporated into the text of the compilation. Any misdescribed amendment is included in endnote 7.
Miscellaneous—Endnote 8
Endnote 8 includes any additional information that may be helpful for a reader of the compilation.
Endnote 2—Abbreviation key
| ad = added or inserted | pres = present |
| am = amended | prev = previous |
| c = clause(s) | (prev) = previously |
| Ch = Chapter(s) | Pt = Part(s) |
| def = definition(s) | r = regulation(s)/rule(s) |
| Dict = Dictionary | Reg = Regulation/Regulations |
| disallowed = disallowed by Parliament | reloc = relocated |
| Div = Division(s) | renum = renumbered |
| exp = expired or ceased to have effect | rep = repealed |
| hdg = heading(s) | rs = repealed and substituted |
| LI = Legislative Instrument | s = section(s) |
| LIA = Legislative Instruments Act 2003 | Sch = Schedule(s) |
| mod = modified/modification | Sdiv = Subdivision(s) |
| No = Number(s) | SLI = Select Legislative Instrument |
| o = order(s) | SR = Statutory Rules |
| Ord = Ordinance | Sub‑Ch = Sub‑Chapter(s) |
| orig = original | SubPt = Subpart(s) |
| par = paragraph(s)/subparagraph(s) /sub‑subparagraph(s) | |
Endnote 3—Legislation history
| Act | Number and year | Assent | Commencement | Application, saving and transitional provisions |
| Taxation (Trustee Beneficiary Non‑disclosure Tax) Act (No. 2) 2007 | 145, 2007 | 24 Sept 2007 | ss. 3, 4: 24 Sept 2007 (see s. 2(1))
Remainder: Royal Assent | |
| Taxation (Trustee Beneficiary Non‑disclosure Tax) (No. 2) Amendment (DisabilityCare Australia) Act 2013 | 49, 2013 | 28 May 2013 | Schedule 1: 28 May 2013 (see s. 2(1))
Remainder: Royal Assent | Sch. 1 (item 2) |
| Taxation (Trustee Beneficiary Non‑disclosure Tax) (No. 2) Amendment (Temporary Budget Repair Levy) Act 2014 | 55, 2014 | 25 June 2014 | Sch 1: 25 June 2014 (see s 2(1))
Remainder: Royal Assent | — |
Endnote 4—Amendment history
| Provision affected | How affected |
| s. 4....................................... | am. No. 49, 2013 |
| s 5........................................ | ad No 55, 2014 |
Endnote 5—Uncommenced amendments [none]
Endnote 6—Modifications [none]
Endnote 7—Misdescribed amendments [none]
Endnote 8—Miscellaneous [none]