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This is a Bill, not an Act. For current law, see the Acts databases.
Presented and read a first time
New Business Tax System (Untainting Tax) Bill 2006
No. , 2006
(Treasury)
A Bill for an Act to impose a tax in relation to untainting tainted share capital accounts of companies
New Business Tax System (Untainting Tax) Bill 2006 No. , 2006
New Business Tax System (Untainting Tax) Bill 2006 No. , 2006
Contents
1 Short title 1
2 Commencement 1
3 Imposition of tax 2
Section 3
Section 1
New Business Tax System (Untainting Tax) Bill 2006 No. , 2006
New Business Tax System (Untainting Tax) Bill 2006 No. , 2006
New Business Tax System (Untainting Tax) Bill 2006 No. , 2006
A Bill for an Act to impose a tax in relation to untainting tainted share capital accounts of companies
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the New Business Tax System (Untainting Tax) Act 2006.
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
Provision(s)
Commencement
Date/Details
1. Sections 1 and 2 and anything in this Act not elsewhere covered by this table
The day on which this Act receives the Royal Assent.
2. Section 3
At the same time as Part 1 of Schedule 4 to the Tax Laws Amendment (2006 Measures No. 3) Act 2006 commences.
Note: This table relates only to the provisions of this Act as originally passed by the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.
(2) Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.
3 Imposition of tax
Tax payable under section 197-60 of the Income Tax Assessment Act 1997 is imposed.
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