Federal Register of Legislation - Australian Government

Primary content

Act No. 109 of 2018 as made
An Act to amend the law relating to taxation, and for related purposes
Administered by: Treasury
Originating Bill: Treasury Laws Amendment (Accelerated Depreciation for Small Business Entities) Bill 2018
Registered 26 Sep 2018
Date of Assent 21 Sep 2018
Table of contents.

Commonwealth Coat of Arms of Australia

 

 

 

 

 

 

Treasury Laws Amendment (Accelerated Depreciation for Small Business Entities) Act 2018

 

No. 109, 2018

 

 

 

 

 

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

Income Tax Assessment Act 1997                                                                              3

Income Tax (Transitional Provisions) Act 1997                                                    3

 


Commonwealth Coat of Arms of Australia

 

 

Treasury Laws Amendment (Accelerated Depreciation for Small Business Entities) Act 2018

No. 109, 2018

 

 

 

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

[Assented to 21 September 2018]

The Parliament of Australia enacts:

1  Short title

                   This Act is the Treasury Laws Amendment (Accelerated Depreciation for Small Business Entities) Act 2018.

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

The day this Act receives the Royal Assent.

21 September 2018

2.  Schedule 1

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

1 October 2018

Note:          This table relates only to the provisions of this Act as originally enacted.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

  

Income Tax Assessment Act 1997

1  Paragraph 328‑180(1)(b) (note)

Omit “30 June 2018”, substitute “30 June 2019”.

2  Paragraph 328‑180(2)(a) (note)

Omit “30 June 2018”, substitute “30 June 2019”.

3  Paragraph 328‑180(3)(a) (note)

Omit “30 June 2018”, substitute “30 June 2019”.

4  Subsection 328‑210(1) (note 2)

Omit “30 June 2018”, substitute “30 June 2019”.

5  Subsection 328‑250(1) (note)

Omit “30 June 2018”, substitute “30 June 2019”.

6  Subsection 328‑250(4) (note)

Omit “30 June 2018”, substitute “30 June 2019”.

7  Subsection 328‑253(4) (note)

Omit “30 June 2018”, substitute “30 June 2019”.

Income Tax (Transitional Provisions) Act 1997

8  Section 328‑180 (heading)

Omit “30 June 2018”, substitute “30 June 2019”.

9  Subsection 328‑180(1) (paragraph (b) of the definition of increased access year)

Omit “30 June 2018”, substitute “30 June 2019”.

10  Subparagraphs 328‑180(4)(b)(i) and (ii)

Omit “30 June 2018”, substitute “30 June 2019”.

11  Paragraph 328‑180(5)(b)

Omit “30 June 2018”, substitute “30 June 2019”.

 

 

 

 

[Minister’s second reading speech made in—

House of Representatives on 24 May 2018

Senate on 25 June 2018]

 

(103/18)