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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
THE SENATE
Presented and read a first time
Taxation Administration Amendment
(Corporate Tax Entity Information) Bill
2017
No. , 2017
(Senator Gallagher)
A Bill for an Act to amend the Taxation
Administration Act 1953, and for related purposes
No. , 2017
Taxation Administration Amendment (Corporate Tax Entity
Information) Bill 2017
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
Schedule 1--Amendments
3
Taxation Administration Act 1953
3
No. , 2017
Taxation Administration Amendment (Corporate Tax Entity
Information) Bill 2017
1
A Bill for an Act to amend the Taxation
1
Administration Act 1953, and for related purposes
2
The Parliament of Australia enacts:
3
1 Short title
4
This Act is the Taxation Administration Amendment (Corporate
5
Tax Entity Information) Act 2017.
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2 Commencement
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(1) Each provision of this Act specified in column 1 of the table
8
commences, or is taken to have commenced, in accordance with
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column 2 of the table. Any other statement in column 2 has effect
10
according to its terms.
11
12
2
Taxation Administration Amendment (Corporate Tax Entity
Information) Bill 2017
No. , 2017
Commencement information
Column 1
Column 2
Column 3
Provisions
Commencement
Date/Details
1. The whole of
this Act
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.
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3 Schedules
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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repealed as set out in the applicable items in the Schedule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.
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Amendments Schedule 1
No. , 2017
Taxation Administration Amendment (Corporate Tax Entity
Information) Bill 2017
3
Schedule 1--Amendments
1
2
Taxation Administration Act 1953
3
1 Subsection 3C(1)
4
Repeal the subsection, substitute:
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(1) This section applies to a corporate tax entity for an income year if,
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according to information reported to the Commissioner in the
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entity's income tax return for the income year, the entity has total
8
income equal to or exceeding $100 million for the income year. An
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expression used in this subsection that is also used in the Income
10
Tax Assessment Act 1997 has the same meaning as in that Act.
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2 Application of amendment
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The amendment made by this Schedule applies in relation to an entity
13
for the 2017-18 income year and each later income year.
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