Taxation (Trustee Beneficiary Non-disclosure Tax) Act (No. 2) 2007

No. 145, 2007 as amended

Compilation start date: 25 June 2014

Includes amendments up to: Act No. 55, 2014

About this compilation

This compilation

This is a compilation of the Taxation (Trustee Beneficiary Non-disclosure Tax) Act (No. 2) 2007 as in force on 25 June 2014. It includes any commenced amendment affecting the legislation to that date.

This compilation was prepared on 3 July 2014.

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of each amended provision.

Uncommenced amendments

The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in the endnotes.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If a provision of the compiled law is affected by a modification that is in force, details are included in the endnotes.

Provisions ceasing to have effect

If a provision of the compiled law has expired or otherwise ceased to have effect in accordance with a provision of the law, details are included in the endnotes.

Contents

1 Short title 1

2 Commencement 1

3 Imposition of trustee beneficiary non-disclosure tax 2

4 Rate of trustee beneficiary non-disclosure tax 2

5 Temporary budget repair levy 2

Endnotes 3

Endnote 1—About the endnotes 3

Endnote 2—Abbreviation key 5

Endnote 3—Legislation history 6

Endnote 4—Amendment history 7

Endnote 5—Uncommenced amendments [none] 8

Endnote 6—Modifications [none] 8

Endnote 7—Misdescribed amendments [none] 8

Endnote 8—Miscellaneous [none] 8

An Act to impose trustee beneficiary non-disclosure tax, and for related purposes
1 Short title

This Act may be cited as the Taxation (Trustee Beneficiary Non-disclosure Tax) Act (No. 2) 2007.
2 Commencement 1

Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information Commencement information Commencement information
Column 1 Column 2 Column 3
Provision(s) Commencement Date/Details
1. Sections 1 and 2 and anything in this Act not elsewhere covered by this table The day on which this Act receives the Royal Assent. 24 September 2007
2. Sections 3 and 4 At the same time as Schedule 4 to the Tax Laws Amendment (2007 Measures No. 4) Act 2007 commences. 24 September 2007

Note: This table relates only to the provisions of this Act as originally passed by both Houses of the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.

 2

Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.
3 Imposition of trustee beneficiary non-disclosure tax

Tax payable under paragraph 102UM(2)(a) of the Income Tax Assessment Act 1936 is imposed on the amount mentioned in that paragraph.
4 Rate of trustee beneficiary non-disclosure tax

The rate of tax imposed by this Act on the amount is 47%.
5 Temporary budget repair levy 1

This section applies to the temporary budget repair levy years.

 2

Increase the rate of tax mentioned in section 4 by 2 percentage points.

 3

In this section:

temporary budget repair levy year means a year of income corresponding to a temporary budget repair levy year (within the meaning of section 4-11 of the Income Tax (Transitional Provisions) Act 1997).

Endnotes

Endnote 1—About the endnotes

The endnotes provide details of the history of this legislation and its provisions. The following endnotes are included in each compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Endnote 5—Uncommenced amendments

Endnote 6—Modifications

Endnote 7—Misdescribed amendments

Endnote 8—Miscellaneous

If there is no information under a particular endnote, the word “none” will appear in square brackets after the endnote heading.

Abbreviation key—Endnote 2

The abbreviation key in this endnote sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended the compiled law. The information includes commencement information for amending laws and details of application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision level. It also includes information about any provisions that have expired or otherwise ceased to have effect in accordance with a provision of the compiled law.

Uncommenced amendments—Endnote 5

The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in endnote 5.

Modifications—Endnote 6

If the compiled law is affected by a modification that is in force, details of the modification are included in endnote 6.

Misdescribed amendments—Endnote 7

An amendment is a misdescribed amendment if the effect of the amendment cannot be incorporated into the text of the compilation. Any misdescribed amendment is included in endnote 7.

Miscellaneous—Endnote 8

Endnote 8 includes any additional information that may be helpful for a reader of the compilation.

Endnote 2—Abbreviation key
ad = added or inserted pres = present
am = amended prev = previous
c = clause(s) (prev) = previously
Ch = Chapter(s) Pt = Part(s)
def = definition(s) r = regulation(s)/rule(s)
Dict = Dictionary Reg = Regulation/Regulations
disallowed = disallowed by Parliament reloc = relocated
Div = Division(s) renum = renumbered
exp = expired or ceased to have effect rep = repealed
hdg = heading(s) rs = repealed and substituted
LI = Legislative Instrument s = section(s)
LIA = Legislative Instruments Act 2003 Sch = Schedule(s)
mod = modified/modification Sdiv = Subdivision(s)
No = Number(s) SLI = Select Legislative Instrument
o = order(s) SR = Statutory Rules
Ord = Ordinance Sub-Ch = Sub-Chapter(s)
orig = original SubPt = Subpart(s)
par = paragraph(s)/subparagraph(s) /sub-subparagraph(s)

Endnote 3—Legislation history
Act Number and year Assent Commencement Application, saving and transitional provisions
Taxation (Trustee Beneficiary Non-disclosure Tax) Act (No. 2) 2007 145, 2007 24 Sept 2007 ss. 3, 4: 24 Sept 2007 (see s. 2(1)) Remainder: Royal Assent
Taxation (Trustee Beneficiary Non-disclosure Tax) (No. 2) Amendment (DisabilityCare Australia) Act 2013 49, 2013 28 May 2013 Schedule 1: 28 May 2013 (see s. 2(1)) Remainder: Royal Assent Sch. 1 (item 2)
Taxation (Trustee Beneficiary Non-disclosure Tax) (No. 2) Amendment (Temporary Budget Repair Levy) Act 2014 55, 2014 25 June 2014 Sch 1: 25 June 2014 (see s 2(1)) Remainder: Royal Assent —

Endnote 4—Amendment history
Provision affected How affected
s. 4 am. No. 49, 2013
s 5 ad No 55, 2014

Endnote 5—Uncommenced amendments [none]

Endnote 6—Modifications [none]

Endnote 7—Misdescribed amendments [none]

Endnote 8—Miscellaneous [none]