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Clean Energy (Income Tax Rates Amendments) Act 2011

Authoritative Version
Act No. 150 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 Income Tax Rates Act 1986, and for related purposes
Administered by: Treasury
Registered 08 Jul 2015
Start Date 26 Jun 2015
Table of contents.

Clean Energy (Income Tax Rates Amendments) Act 2011

No. 150, 2011

Compilation No. 1

Compilation date:                              26 June 2015

Includes amendments up to:            Act No. 72, 2015

Registered:                                         8 July 2015

 

About this compilation

This compilation

This is a compilation of the Clean Energy (Income Tax Rates 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If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.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—Personal tax rates                                                                                      3

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

Income Tax Rates Act 1986                                                                                        3

Endnotes                                                                                                                                      5

Endnote 1—About the endnotes                                                                              5

Endnote 2—Abbreviation key                                                                                  6

Endnote 3—Legislation history                                                                               7

Endnote 4—Amendment history                                                                             8

 


An Act to amend the Income Tax Rates Act 1986, and for related purposes

1  Short title

                   This Act may be cited as the Clean Energy (Income Tax Rates 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 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 start of the day the Clean Energy (Tax Laws Amendments) Act 2011 receives the Royal Assent.

However, the provision(s) do not commence at all unless both of the events mentioned in paragraphs (b) and (c) 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 1Personal tax rates

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

Income Tax Rates Act 1986

1  Subsection 3(1)

Insert:

tax‑free threshold means $18,200.

2  Subsections 20(1) and (2)

Repeal the subsections, substitute:

Part‑year residency periods

             (1)  This Act applies in relation to a person and a year of income as if the reference in the table in Part I of Schedule 7 to the tax‑free threshold were a reference to the amount calculated in accordance with the following formula, if there are one or more part‑year residency periods in relation to the person in relation to the year of income:

Trustees

          (1A)  Subsection (1) does not apply in calculating the tax payable by the trustee of a trust estate under section 98 of the Assessment Act in respect of a share of a beneficiary of the net income of the trust estate of a year of income.

             (2)  However, this Act applies in calculating the tax payable by the trustee in respect of that share as if the reference in the table in Part I of Schedule 7 to the tax‑free threshold were a reference to the amount calculated in accordance with the following formula, if there are one or more part‑year residency periods in relation to the beneficiary in relation to the year of income:

3  Clause 1 of Part I of Schedule 7 (table items 1 and 2)

Repeal the items, substitute:

1

exceeds the tax‑free threshold but does not exceed $37,000

19%

2

exceeds $37,000 but does not exceed $80,000

32.5%

4  Subparagraph 2(b)(ii) of Division 2 of Part I of Schedule 8

Omit “$6,000”, substitute “the tax‑free threshold”.

5  Paragraph 2(b) of Part I of Schedule 10

Omit “$6,000”, substitute “the tax‑free threshold”.

6  Application provision

The amendments made by this Part 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 (Income Tax Rates Amendments) Act 2011

150, 2011

4 Dec 2011

Sch 1 (items 1–6): 1 July 2012 (s 2(1) item 2)
Remainder: 4 Dec 2011 (s 2(1) item 1)

Sch 1 (item 6)

Labor 201314 Budget Savings (Measures No. 1) Act 2015

72, 2015

26 June 2015

Sch 1 (items 1, 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 7...................................

rep No 72, 2015

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

rep No 72, 2015

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

rep No 72, 2015