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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
Treasury Laws Amendment (Accelerated
Depreciation For Small Business
Entities) Bill 2017
No. , 2017
(Treasury)
A Bill for an Act to amend the law relating to
taxation, and for related purposes
No. , 2017
Treasury Laws Amendment (Accelerated Depreciation For Small
Business Entities) Bill 2017
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
Schedule 1--Amendments
3
Income Tax Assessment Act 1997
3
Income Tax (Transitional Provisions) Act 1997
3
Tax Laws Amendment (Small Business Measures No. 2) Act 2015
4
No. , 2017
Treasury Laws Amendment (Accelerated Depreciation For Small
Business Entities) Bill 2017
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 is the Treasury Laws Amendment (Accelerated
5
Depreciation For Small Business Entities) Act 2017.
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
Treasury Laws Amendment (Accelerated Depreciation For Small
Business Entities) Bill 2017
No. , 2017
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,
items 1 to 11
The first 1 January, 1 April, 1 July or
1 October to occur after the day this Act
receives the Royal Assent.
3. Schedule 1,
items 12 and 13
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
Amendments Schedule 1
No. , 2017
Treasury Laws Amendment (Accelerated Depreciation For Small
Business Entities) Bill 2017
3
Schedule 1--Amendments
1
2
Income Tax Assessment Act 1997
3
1 Paragraph 328-180(1)(b) (note)
4
Omit "and 30 June 2017", substitute "and 30 June 2018".
5
2 Paragraph 328-180(2)(a) (note)
6
Omit "and 30 June 2017", substitute "and 30 June 2018".
7
3 Paragraph 328-180(3)(a) (note)
8
Omit "and 30 June 2017", substitute "and 30 June 2018".
9
4 Subsection 328-210(1) (note 2)
10
Omit "before 30 June 2017", substitute "before 30 June 2018".
11
5 Subsection 328-250(1) (note)
12
Omit "and 30 June 2017", substitute "and 30 June 2018".
13
6 Subsection 328-250(4) (note)
14
Omit "and 30 June 2017", substitute "and 30 June 2018".
15
7 Subsection 328-253(4) (note)
16
Omit "and 30 June 2017", substitute "and 30 June 2018".
17
Income Tax (Transitional Provisions) Act 1997
18
8 Section 328-180 (heading)
19
Repeal the heading, substitute:
20
328-180 Increased access to accelerated depreciation from 12 May
21
2015 to 30 June 2018
22
9 Subsection 328-180(1) (paragraph (b) of the definition of
23
increased access year)
24
Omit "30 June 2017", substitute "30 June 2018".
25
Schedule 1 Amendments
4
Treasury Laws Amendment (Accelerated Depreciation For Small
Business Entities) Bill 2017
No. , 2017
10 Subparagraphs 328-180(4)(b)(i) and (ii)
1
Omit "on or before 30 June 2017", substitute "on or before 30 June
2
2018".
3
11 Paragraph 328-180(5)(b)
4
Omit "30 June 2017", substitute "30 June 2018".
5
Tax Laws Amendment (Small Business Measures No. 2) Act
6
2015
7
12 Subsection 2(1) (table items 3 and 4)
8
Repeal the items.
9
13 Part 2 of Schedule 1
10
Repeal the Part.
11