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This is a Bill, not an Act. For current law, see the Acts databases.
2016-2017
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Diverted Profits Tax Bill 2017
No. , 2017
(Treasury)
A Bill for an Act to impose diverted profits tax, and
for related purposes
No. , 2017
Diverted Profits Tax Bill 2017
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Imposition of tax ............................................................................... 2
4
Rate of tax ......................................................................................... 2
No. , 2017
Diverted Profits Tax Bill 2017
1
A Bill for an Act to impose diverted profits tax, and
1
for related purposes
2
The Parliament of Australia enacts:
3
1 Short title
4
This Act is the Diverted Profits Tax Act 2017.
5
2 Commencement
6
(1) Each provision of this Act specified in column 1 of the table
7
commences, or is taken to have commenced, in accordance with
8
column 2 of the table. Any other statement in column 2 has effect
9
according to its terms.
10
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Section 3
2
Diverted Profits Tax Bill 2017
No. , 2017
Commencement information
Column 1
Column 2
Column 3
Provisions
Commencement
Date/Details
1. The whole of
this Act
At the same time as item 13 of Schedule 1 to
the Treasury Laws Amendment (Combating
Multinational Tax Avoidance) Act 2017
commences.
However, the provisions do not commence
at all if that item does not commence.
Note:
This table relates only to the provisions of this Act as originally
1
enacted. It will not be amended to deal with any later amendments of
2
this Act.
3
(2) Any information in column 3 of the table is not part of this Act.
4
Information may be inserted in this column, or information in it
5
may be edited, in any published version of this Act.
6
3 Imposition of tax
7
Tax payable in accordance with section 177P of the Income Tax
8
Assessment Act 1936 is imposed.
9
4 Rate of tax
10
The rate of tax imposed by this Act is 40%.
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