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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
Tax and Superannuation Laws
Amendment (2015 Measures No. 3) Bill
2015
No. , 2015
(Treasury)
A Bill for an Act to amend the law relating to
taxation, and for related purposes
No. , 2015
Tax and Superannuation Laws Amendment (2015 Measures No. 3) Bill
2015
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
Schedule 1--Abolishing the seafarer tax offset
3
Income Tax Assessment Act 1997
3
Shipping Reform (Tax Incentives) Act 2012
3
Schedule 2--Rates of R&D tax offset
4
Income Tax Assessment Act 1997
4
No. , 2015
Tax and Superannuation Laws Amendment (2015 Measures No. 3) Bill
2015
1
A Bill for an Act to amend the law relating to
1
taxation, and for related purposes
2
The Parliament of Australia enacts:
3
1 Short title
4
This Act may be cited as the Tax and Superannuation Laws
5
Amendment (2015 Measures No. 3) 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
Tax and Superannuation Laws Amendment (2015 Measures No. 3) 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
The day after this Act receives the Royal
Assent.
3. Schedule 2
The day this Act receives the Royal Assent.
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repealed as set out in the applicable items in the Schedule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
Abolishing the seafarer tax offset Schedule 1
No. , 2015
Tax and Superannuation Laws Amendment (2015 Measures No. 3) Bill
2015
3
Schedule 1
--Abolishing the seafarer tax offset
1
2
Income Tax Assessment Act 1997
3
1 Section 13-
1 (table item headed "withholding payments")
4
Repeal the item.
5
2 Subdivision 61-N
6
Repeal the Subdivision.
7
3 Section 67-23 (table item 13)
8
Repeal the item.
9
Shipping Reform (Tax Incentives) Act 2012
10
4 Section 4 (note)
11
Omit ", sections 40-362 and 51-100 and Subdivision 61-N", substitute
12
"and sections 40-362 and 51-100".
13
5 Application of amendments
14
The amendments made by this Schedule apply to assessments for the
15
2015-16 income year and later income years.
16
Schedule 2 Rates of R&D tax offset
4
Tax and Superannuation Laws Amendment (2015 Measures No. 3) Bill
2015
No. , 2015
Schedule 2
--Rates of R&D tax offset
1
2
Income Tax Assessment Act 1997
3
1 Subsection 355-100(1) (cell at table item 1, column headed
4
"The percentage is:")
5
Repeal the cell, substitute:
6
43.5%
2 Subsection 355-100(1) (cell at table item 2, column headed
7
"The percentage is:")
8
Repeal the cell, substitute:
9
38.5%
3 Subsection 355-100(1) (cell at table item 3, column headed
10
"The percentage is:")
11
Repeal the cell, substitute:
12
38.5%
4 Subsection 355-100(1) (note)
13
Omit "45%", substitute "43.5%".
14
5 Application of amendments
15
The amendments made by this Schedule apply in relation to
16
assessments for income years commencing on or after 1 July 2014.
17