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Clean Energy (Tax Laws Amendments) Act 2011

Authoritative Version
Act No. 159 of 2011 as amended, taking into account amendments up to Labor 2013-14 Budget Savings (Measures No. 1) Act 2015
An Act to amend the law relating to taxation, and for related purposes
Administered by: Treasury
Registered 02 Jul 2015
Start Date 26 Jun 2015
Table of contents.

Clean Energy (Tax Laws Amendments) Act 2011

No. 159, 2011

Compilation No. 2

Compilation date:                              26 June 2015

Includes amendments up to:            Act No. 72, 2015

Registered:                                         2 July 2015

 

About this compilation

This compilation

This is a compilation of the Clean Energy (Tax Laws Amendments) Act 2011 that shows the text of the law as amended and in force on 26 June 2015 (the compilation date).

This compilation was prepared on 30 June 2015.

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on ComLaw (www.comlaw.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on ComLaw for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on ComLaw for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

  

  

 


Contents

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

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

3............ Schedule(s)......................................................................................... 2

Schedule 1—Low‑income tax offset                                                                            3

Part 1—Amendments applying from the 2012‑13 year of income        3

Income Tax Assessment Act 1936                                                                              3

Schedule 2—Medicare levy and Medicare levy surcharge                           4

A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999    4

Medicare Levy Act 1986                                                                                             4

Schedule 3—Tax rebate for low income aged persons and pensioners 6

Income Tax Assessment Act 1936                                                                              6

Income Tax Assessment Act 1997                                                                              9

Medicare Levy Act 1986                                                                                             9

Endnotes                                                                                                                                    10

Endnote 1—About the endnotes                                                                            10

Endnote 2—Abbreviation key                                                                                11

Endnote 3—Legislation history                                                                             12

Endnote 4—Amendment history                                                                           13


An Act to amend the law relating to taxation, and for related purposes

1  Short title

                   This Act may be cited as the Clean Energy (Tax Laws Amendments) Act 2011.

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 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

4 December 2011

2.  Schedule 1, Part 1

The later of:

(a) the start of 1 July 2012; and

(b) the commencement of section 3 of the Clean Energy Act 2011.

However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur.

1 July 2012

4.  Schedule 2

The latest of:

(a) the start of 1 July 2012; and

(b) the commencement of section 3 of the Clean Energy Act 2011; and

(c) the commencement of Part 1 of Schedule 1 to the Clean Energy (Income Tax Rates Amendments) Act 2011.

However, the provision(s) do not commence at all unless both of the events mentioned in paragraphs (b) and (c) occur.

1 July 2012

5.  Schedule 3

The later of:

(a) the start of 1 July 2012; and

(b) the commencement of section 3 of the Clean Energy Act 2011.

However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur.

1 July 2012

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.

             (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.

3  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 1Low‑income tax offset

Part 1Amendments applying from the 2012‑13 year of income

Income Tax Assessment Act 1936

1  Subsection 159N(1)

Omit “$67,500”, substitute “$66,667”.

2  Subsection 159N(2)

Repeal the subsection, substitute:

             (2)  The amount of the rebate is $445, reduced by 1.5 cents for every $1 of the amount (if any) by which the taxpayer’s taxable income of the year of income exceeds $37,000.

3  Application provision

The amendments made by this Part apply to the 2012‑13 year of income and later years of income.

Schedule 2Medicare levy and Medicare levy surcharge

  

A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999

1  Paragraphs 15(1)(c) and 16(2)(c)

Omit “$19,404”, substitute “20,542”.

Medicare Levy Act 1986

2  Subsection 3(1) (paragraph (a) of the definition of phase‑in limit)

Omit “$36,100”, substitute “$37,975”.

3  Subsection 3(1) (paragraph (c) of the definition of phase‑in limit)

Omit “$22,828”, substitute “$24,167”.

4  Subsection 3(1) (paragraph (a) of the definition of threshold amount)

Omit “$30,685”, substitute “$32,279”.

5  Subsection 3(1) (paragraph (c) of the definition of threshold amount)

Omit “$19,404”, substitute “$20,542”.

6  Subsection 8(7)

Omit “$44,500”, substitute “$46,000”.

7  Paragraph 8D(3)(c)

Omit “$19,404”, substitute “$20,542”.

8  Subparagraph 8D(4)(a)(ii)

Omit “$19,404”, substitute “$20,542”.

9  Paragraph 8G(2)(c)

Omit “$19,404”, substitute “$20,542”.

10  Subparagraph 8G(3)(a)(ii)

Omit “$19,404”, substitute “$20,542”.

11  Application provision

The amendments made by this Schedule apply to the 2012‑13 year of income and later years of income.

Schedule 3Tax rebate for low income aged persons and pensioners

  

Income Tax Assessment Act 1936

1  Subsection 6(1)

Insert:

rebatable benefit has the meaning given by subsection 160AAA(1).

2  Section 160AAAA (heading)

Repeal the heading, substitute:

160AAAA  Tax rebate for low income aged persons and pensioners

3  Subsection 160AAAA(1)

Omit “A taxpayer”, substitute “Subject to subsection 160AAA(4), a taxpayer”.

4  Subsection 160AAAA(2)

Omit “, on at least one day during the year of income, either”.

5  Paragraphs 160AAAA(2)(a) and (b)

Before “the taxpayer”, insert “on at least one day during the year of income,”.

6  At the end of subsection 160AAAA(2)

Add:

               ; or (c)  the assessable income of the taxpayer of the year of income includes an amount of:

                              (i)  social security pension or education entry payment (within the meaning of the Social Security Act 1991); or

                             (ii)  service pension, carer service pension, income support supplement or Defence Force Income Support Allowance (within the meaning of the Veterans’ Entitlements Act 1986) or a DFISA‑like payment mentioned in Division 4 of Part VIIAB of that Act;

                            and, on at least one day during the year of income, the taxpayer is not in gaol.

7  Section 160AAAB (heading)

Repeal the heading, substitute:

160AAAB  Tax rebate for low income aged persons and pensioners—trustees assessed under section 98

8  Subsection 160AAAB(1)

Omit “A taxpayer who is”, substitute “Subject to subsection 160AAA(4A),”.

9  Subsection 160AAAB(2)

Omit “, on at least one day during the year of income, either”.

10  Paragraphs 160AAAB(2)(a) and (b)

Before “the beneficiary”, insert “on at least one day during the year of income,”.

11  At the end of subsection 160AAAB(2)

Add:

               ; or (c)  the assessable income of the beneficiary of the year of income includes an amount of:

                              (i)  social security pension or education entry payment (within the meaning of the Social Security Act 1991); or

                             (ii)  service pension, carer service pension, income support supplement or Defence Force Income Support Allowance (within the meaning of the Veterans’ Entitlements Act 1986) or a DFISA‑like payment mentioned in Division 4 of Part VIIAB of that Act;

                            and, on at least one day during the year of income, the beneficiary is not in gaol.

12  Section 160AAA (heading)

Repeal the heading, substitute:

160AAA  Rebate in respect of certain benefits etc.

13  Subsection 160AAA(1) (definition of rebatable pension)

Repeal the definition.

14  Subsection 160AAA(2)

Repeal the subsection.

15  Subsection 160AAA(4)

Omit “subsections (2) and (3)”, substitute “section 160AAAA (Tax rebate for low income aged persons and pensioners) and this section”.

16  Subsection 160AAA(4A)

Repeal the subsection, substitute:

          (4A)  If, apart from this subsection:

                     (a)  the taxpayer would be entitled in his or her assessment in respect of income of a year of income to a rebate of tax under this section; and

                     (b)  the taxpayer is the beneficiary of a trust; and

                     (c)  the trustee of the trust is entitled to a rebate of tax for the year of income under section 160AAAB in respect of the taxpayer;

then:

                     (d)  if the amounts of the rebates are the same, or the amount of the rebate under this section is the lesser amount—the taxpayer is not entitled to the rebate under this section; or

                     (e)  if the amount of the rebate under this section is the greater amount—the trustee is not entitled to the rebate under section 160AAAB.

Income Tax Assessment Act 1997

17  Section 13‑1 (table item headed “low income earner”)

Omit “aged beneficiary”, substitute “aged or pensioner beneficiary”.

18  Section 13‑1 (table item headed “low income earner”)

After “aged person”, insert “or pensioner”.

19  Section 13‑1 (table item headed “social security and other benefit payments”)

Omit “160AAA(2)”, substitute “160AAAA”.

20  Subsection 63‑10(1) (table items 5 and 10, column headed “Tax offset”)

After “aged persons”, insert “and pensioners”.

21  Subsection 63‑10(1) (table item 15, column headed “Tax offset”)

Omit “pensions”, substitute “benefits”.

Medicare Levy Act 1986

22  Subsection 3(1) (paragraph (b) of the definition of phase‑in limit)

Repeal the paragraph.

23  Subsection 3(1) (paragraph (b) of the definition of threshold amount)

Repeal the paragraph.

24  Application provision

The amendments made by this Schedule apply to the 2012‑13 year of income and later years of income.


Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Endnotes about misdescribed amendments and other matters are included in a compilation only as necessary.

Abbreviation key—Endnote 2

The abbreviation key 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 (or will amend) the compiled law. The information includes commencement details for amending laws and details of any 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 (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation “(md)” added to the details of the amendment included in the amendment history.

If a misdescribed amendment cannot be given effect as intended, the amendment is set out in the endnotes.

 

Endnote 2—Abbreviation key

 

A = Act

orig = original

ad = added or inserted

par = paragraph(s)/subparagraph(s)

am = amended

    /sub‑subparagraph(s)

amdt = amendment

pres = present

c = clause(s)

prev = previous

C[x] = Compilation No. x

(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 = expires/expired or ceases/ceased to have

rep = repealed

    effect

rs = repealed and substituted

F = Federal Register of Legislative Instruments

s = section(s)/subsection(s)

gaz = gazette

Sch = Schedule(s)

LI = Legislative Instrument

Sdiv = Subdivision(s)

LIA = Legislative Instruments Act 2003

SLI = Select Legislative Instrument

(md) = misdescribed amendment

SR = Statutory Rules

mod = modified/modification

Sub‑Ch = Sub‑Chapter(s)

No. = Number(s)

SubPt = Subpart(s)

o = order(s)

underlining = whole or part not

Ord = Ordinance

    commenced or to be commenced

 

Endnote 3—Legislation history

 

Act

Number and year

Assent

Commencement

Application, saving and transitional provisions

Clean Energy (Tax Laws Amendments) Act 2011

159, 2011

4 Dec 2011

Sch 1 (items 1–3), Sch 2 and 3: 1 July 2012 (s 2(1) items 2, 4, 5)
Sch 1 (items 4–6): never commenced (s 2(1) item 3)
Remainder: 4 Dec 2011 (s 2(1) item 1)

 

Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2012

86, 2012

28 June 2012

Sch 1 (items 14–16): 28 June 2012 (s 2(1) item 2)

Labor 2013‑14 Budget Savings (Measures No. 1) Act 2015

72, 2015

25 June 2015

Sch 2: 26 June 2015 (s 2)

 

Endnote 4—Amendment history

 

Provision affected

How affected

s 2........................................

am No 72, 2015

Schedule 1

 

Part 2...................................

rep No 72, 2015

item 4...................................

rep No 72, 2015

item 5...................................

rep No 72, 2015

item 6...................................

rep No 72, 2015

Schedule 2

 

item 1...................................

am No 86, 2012

item 3...................................

am No 86, 2012

item 5...................................

am No 86, 2012

item 7...................................

am No 86, 2012

item 8...................................

am No 86, 2012

item 9...................................

am No 86, 2012

item 10.................................

am No 86, 2012