Federal Register of Legislation - Australian Government

Primary content

Act No. 48 of 2016 as made
An Act to impose tax in relation to amounts of a character relating to a tax offset, and for related purposes
Administered by: Treasury
Originating Bill: Income Tax (Attribution Managed Investment Trusts—Offsets) Bill 2015
Registered 06 May 2016
Date of Assent 05 May 2016
Table of contents.

 

 

 

 

 

 

Income Tax (Attribution Managed Investment Trusts—Offsets) Act 2016

 

No. 48, 2016

 

 

 

 

 

An Act to impose tax in relation to amounts of a character relating to a tax offset, and for related purposes

  

  

  


Contents

1............ Short title............................................................................................. 2

2............ Commencement................................................................................... 2

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

4............ Rate of tax........................................................................................... 3

 


 

 

Income Tax (Attribution Managed Investment Trusts—Offsets) Act 2016

No. 48, 2016

 

 

 

An Act to impose tax in relation to amounts of a character relating to a tax offset, and for related purposes

[Assented to 5 May 2016]

The Parliament of Australia enacts:

1  Short title

                   This Act may be cited as the Income Tax (Attribution Managed Investment Trusts—Offsets) Act 2016.

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

Provisions

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.

5 May 2016

2.  Sections 3 and 4

At the same time as Schedule 1 to the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 commences.

However, if that Schedule does not commence, the provisions do not commence at all.

5 May 2016

Note:          This table relates only to the provisions of this Act as originally enacted.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  Imposition of tax

                   Tax payable in accordance with subsection 276‑340(2), 276‑410(2), 276‑425(2) or 276‑820(6) of the Income Tax Assessment Act 1997 is imposed.

4  Rate of tax

                   The rate of tax imposed by this Act is 100%.

 

 

 

 

[Minister’s second reading speech made in—

House of Representatives on 3 December 2015

Senate on 4 May 2016]

 

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