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This is a Bill, not an Act. For current law, see the Acts databases.
2002-2003
The Parliament of
the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Taxation
Laws (Clearing and Settlement Facility Support) Bill
2003
No. ,
2003
(Treasury)
A Bill
for an Act to negate tax consequences relating to payments under
section 891A of the Corporations Act 2001, and for related
purposes
Contents
A Bill for an Act to negate tax consequences relating to
payments under section 891A of the Corporations Act 2001, and for
related purposes
The Parliament of Australia enacts:
This Act may be cited as the Taxation Laws (Clearing and Settlement
Facility Support) Act 2003.
This Act commences on the day on which it receives the Royal
Assent.
(1) No consequences arise, for the purposes of any Commonwealth laws
relating to:
(a) tax for which liability is worked out under the income tax law;
or
(b) GST;
in respect of a payment under subsection 891A(1) of the Corporations Act
2001.
(2) This section applies to any payment made after the day the Bill for
this Act was introduced into the Parliament.
(3) In this section:
GST has the same meaning as in the A New Tax System (Goods
and Services Tax) Act 1999.
income tax law has the same meaning as in the Income Tax
Assessment Act 1997.