Federal Register of Legislation - Australian Government

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Act No. 57 of 2017 as made
An Act to amend the law relating to taxation, and for related purposes
Administered by: Treasury
Originating Bill: Treasury Laws Amendment (Foreign Resident Capital Gains Withholding Payments) Bill 2017
Registered 26 Jun 2017
Date of Assent 22 Jun 2017
Table of contents.

 

 

 

 

 

 

Treasury Laws Amendment (Foreign Resident Capital Gains Withholding Payments) Act 2017

 

No. 57, 2017

 

 

 

 

 

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

  

  


Contents

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

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

3............ Schedules............................................................................................ 2

Schedule 1—Amendments                                                                                                3

Taxation Administration Act 1953                                                                           3


 

 

Treasury Laws Amendment (Foreign Resident Capital Gains Withholding Payments) Act 2017

No. 57, 2017

 

 

 

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

[Assented to 22 June 2017]

The Parliament of Australia enacts:

1  Short title

                   This Act is the Treasury Laws Amendment (Foreign Resident Capital Gains Withholding Payments) Act 2017.

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.  The whole of this Act

The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent.

1 July 2017

Note:          This table relates only to the provisions of this Act as originally enacted.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

                   Legislation 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 1Amendments

  

Taxation Administration Act 1953

1  Paragraph 14‑200(3)(a) in Schedule 1

Omit “10%”, substitute “12.5%”.

2  Paragraph 14‑205(4)(a) in Schedule 1

Omit “10%”, substitute “12.5%”.

3  Paragraph 14‑215(1)(a) in Schedule 1

Omit “$2 million”, substitute “$750,000”.

4  Application

The amendments made by this Schedule apply in relation to acquisitions occurring on or after 1 July 2017.

 

 

 

 

[Minister’s second reading speech made in—

House of Representatives on 1 June 2017

Senate on 15 June 2017]

 

(109/17)