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This is a Bill, not an Act. For current law, see the Acts databases.
2013-2014-2015
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Medicare Levy Amendment (Attribution
Managed Investment Trusts) Bill 2015
No. , 2015
(Treasury)
A Bill for an Act to amend the Medicare Levy Act
1986
No. , 2015
Medicare Levy Amendment (Attribution Managed Investment Trusts)
Bill 2015
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
Schedule 1--Amendments
3
Medicare Levy Act 1986
3
No. , 2015
Medicare Levy Amendment (Attribution Managed Investment Trusts)
Bill 2015
1
A Bill for an Act to amend the Medicare Levy Act
1
1986
2
The Parliament of Australia enacts:
3
1 Short title
4
This Act may be cited as the Medicare Levy Amendment
5
(Attribution Managed Investment Trusts) Act 2015.
6
2 Commencement
7
(1) Each provision of this Act specified in column 1 of the table
8
commences, or is taken to have commenced, in accordance with
9
column 2 of the table. Any other statement in column 2 has effect
10
according to its terms.
11
12
2
Medicare Levy Amendment (Attribution Managed Investment Trusts)
Bill 2015
No. , 2015
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.
2. Schedule 1
At the same time as Schedule 1 to the Tax
Laws Amendment (New Tax System for
Managed Investment Trusts) Act 2015
commences.
However, if that Schedule does not
commence, the provisions do not commence
at all.
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 Schedules
7
Legislation that is specified in a Schedule to this Act is amended or
8
repealed as set out in the applicable items in the Schedule
9
concerned, and any other item in a Schedule to this Act has effect
10
according to its terms.
11
Amendments Schedule 1
No. , 2015
Medicare Levy Amendment (Attribution Managed Investment Trusts)
Bill 2015
3
Schedule 1--Amendments
1
2
Medicare Levy Act 1986
3
1 Subsection 3(1)
4
Insert:
5
AMIT (short for attribution managed investment trust) has the
6
same meaning as in the Income Tax Assessment Act 1997.
7
2 At the end of section 6
8
Add:
9
(4) The rate of levy payable by a person in the capacity of a trustee of
10
an AMIT in respect of an amount mentioned in
11
subsection 276-405(2) of the Income Tax Assessment Act 1997,
12
being an amount in respect of which the trustee is liable to be
13
assessed pursuant to that subsection, is 2%.
14
(5) The rate of levy payable by a person in the capacity of a trustee of
15
an AMIT in respect of an amount mentioned in
16
subsection 276-415(2) of the Income Tax Assessment Act 1997,
17
being an amount in respect of which the trustee is liable to be
18
assessed pursuant to that subsection, is 2%.
19
(6) The rate of levy payable by a person in the capacity of a trustee of
20
an AMIT in respect of an amount mentioned in
21
subsection 276-420(2) of the Income Tax Assessment Act 1997,
22
being an amount in respect of which the trustee is liable to be
23
assessed pursuant to that subsection, is 2%.
24