Federal Register of Legislation - Australian Government

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A Bill for an Act to amend the Foreign Acquisitions and Takeovers Fees Imposition Act 2015, and for related purposes
Administered by: Treasury
For authoritative information on the progress of bills and on amendments proposed to them, please see the House of Representatives Votes and Proceedings, and the Journals of the Senate as available on the Parliament House website.
Registered 08 Sep 2022
Introduced HR 08 Sep 2022
Table of contents.

2022

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Foreign Acquisitions and Takeovers Fees Imposition Amendment Bill 2022

 

No.      , 2022

 

(Treasury)

 

 

 

A Bill for an Act to amend the Foreign Acquisitions and Takeovers Fees Imposition Act 2015, and for related purposes

  

  


Contents

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

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

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

Schedule 1—Amendments                                                                                                3

Foreign Acquisitions and Takeovers Fees Imposition Act 2015                        3

 

 


A Bill for an Act to amend the Foreign Acquisitions and Takeovers Fees Imposition Act 2015, and for related purposes

The Parliament of Australia enacts:

1  Short title

                   This Act is the Foreign Acquisitions and Takeovers Fees Imposition Amendment Act 2022.

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 day after this Act receives the Royal Assent.

 

Note:          This table relates only to the provisions of this Act as originally enacted.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

  

Foreign Acquisitions and Takeovers Fees Imposition Act 2015

1  Subsection 6(3)

Omit “$1 million”, substitute “$1,045,000”.

2  Subsection 7(1)

Omit “2021”, substitute “2023”.

3  Subsection 8(1) (formula)

Repeal the formula, substitute:

Start formula start fraction Sum of the index numbers for the 4 quarters in the year ending on 31 March just before the start of the relevant financial year over Sum of the index numbers for the 4 quarters in the year ending on 31 March 2022 end fraction end formula