Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Schedule(s)......................................................................................... 2

Schedule 1--Primary producers' income averaging and farm management deposits    4

Part 1--Primary producers' income averaging                                                 4

Income Tax Assessment Act 1997                                                                              4

Part 2--Farm management deposits                                                                      7

Income Tax Assessment Act 1936                                                                              7

Income Tax Assessment Act 1997                                                                              7

Income Tax (Transitional Provisions) Act 1997                                                    9

Part 3--Application provision                                                                                11

Schedule 2--Interim changes to the taxation of trust income                   12

Part 1--Main amendments                                                                                       12

Income Tax Assessment Act 1936                                                                            12

Income Tax Assessment Act 1997                                                                            21

Part 2--Consequential amendments                                                                    34

Income Tax Assessment Act 1936                                                                            34

Income Tax Assessment Act 1997                                                                            36

Part 3--Application provision                                                                                38

Schedule 3--National Rental Affordability Scheme                                      40

Part 1--National Rental Affordability Scheme Tax Offset                    40

Division 1--NRAS consortiums                                                                              40

Income Tax Assessment Act 1997                                                                            40

Division 2--Elections by NRAS approved participants                                     45

Income Tax Assessment Act 1997                                                                            45

Part 2--Other incentives                                                                                           53

Income Tax Assessment Act 1997                                                                            53

Part 3--Definitions                                                                                                      54

Income Tax Assessment Act 1997                                                                            54

Schedule 4--Phasing out the dependent spouse tax offset                         56

Income Tax Assessment Act 1936                                                                            56

Income Tax Assessment Act 1997                                                                            62

Schedule 5--Car fringe benefits                                                                                 63

Part 1--Amendments commencing on Royal Assent                                 63

Fringe Benefits Tax Assessment Act 1986                                                             63

Part 2--Amendments commencing on 1 April 2016                                  66

Fringe Benefits Tax Assessment Act 1986                                                             66

 

 

 

Tax Laws Amendment (2011 Measures No. 5) Act 2011

No. 62, 2011

 

An Act to amend the law relating to taxation, and for related purposes

[Assented to 29 June 2011]

The Parliament of Australia enacts: