Federal Register of Legislation - Australian Government

Primary content

Regulations as made
This regulation amends the Income Tax Assessment Regulations 1997 and the Tax Agent Services Regulation 2009 following the introduction of the foreign resident capital gains withholding regime.
Administered by: Treasury
Registered 09 May 2016
Tabling HistoryDate
Tabled HR30-Aug-2016
Tabled Senate30-Aug-2016
Date of repeal 02 Jan 2018
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

 

Tax Laws Amendment (Foreign Resident Capital Gains Withholding Payments) Regulation 2016

I, General the Honourable Sir Peter Cosgrove AK MC (Ret’d), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation.

Dated 05 May 2016

Peter Cosgrove

Governor‑General

By His Excellency’s Command

Kelly O’Dwyer

Assistant Treasurer

 

  

  


Contents

1............ Name............................................................................................................................. 1

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

3............ Authority....................................................................................................................... 1

4............ Schedules...................................................................................................................... 1

Schedule 1—Matters relating to foreign resident capital gains withholding payments   2

Income Tax Assessment Regulations 1997                                                                                        2

Tax Agent Services Regulations 2009                                                                                               2

 


1  Name

                   This is the Tax Laws Amendment (Foreign Resident Capital Gains Withholding Payments) Regulation 2016.

2  Commencement

             (1)  Each provision of this instrument 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 4 and anything in this instrument not elsewhere covered by this table

The day after this instrument is registered.

10 May 2016

2.  Schedule 1, item 1

1 July 2016.

1 July 2016

3.  Schedule 1, item 2

The day after this instrument is registered.

10 May 2016

4.  Schedule 1, item 3

1 January 2018.

1 January 2018

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the following:

                     (a)  the Income Tax Assessment Act 1997;

                     (b)  the Tax Agent Services Act 2009.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1Matters relating to foreign resident capital gains withholding payments

  

Income Tax Assessment Regulations 1997

1  Schedule 5

After “ASX Limited”, insert “Chi‑X Australia Pty Ltd”.

Tax Agent Services Regulations 2009

2  After paragraph 13(1)(k)

Insert:

                   (ka)  a service provided by a person licensed or registered under a law of a State or Territory to carry on a conveyancing business (however described), or business as a settlement agent or conveyancing agent, to the extent that the service involves or relates to paying an amount under section 14‑200 in Schedule 1 to the Taxation Administration Act 1953;

3  Paragraph 13(1)(ka)

Repeal the paragraph.

Note:       This item is a sunsetting provision. It commences on 1 January 2018.