Income Tax (Attribution Managed Investment Trusts—Offsets) Act 2016

No. 48, 2016

An Act to impose tax in relation to amounts of a character relating to a tax offset, and for related purposes

Contents

1 Short title 2

2 Commencement 2

3 Imposition of tax 3

4 Rate of tax 3

An Act to impose tax in relation to amounts of a character relating to a tax offset, and for related purposes

[Assented to 5 May 2016]

The Parliament of Australia enacts:
1 Short title

This Act may be cited as the Income Tax (Attribution Managed Investment Trusts—Offsets) Act 2016.
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
Provisions Commencement Date/Details
1. Sections 1 and 2 and anything in this Act not elsewhere covered by this table The day this Act receives the Royal Assent. 5 May 2016
2. Sections 3 and 4 At the same time as Schedule 1 to the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 commences. However, if that Schedule does not commence, the provisions do not commence at all. 5 May 2016

Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

 2

Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
3 Imposition of tax

Tax payable in accordance with subsection 276-340(2), 276-410(2), 276-425(2) or 276-820(6) of the Income Tax Assessment Act 1997 is imposed.
4 Rate of tax

The rate of tax imposed by this Act is 100%.

[Minister’s second reading speech made in—

House of Representatives on 3 December 2015

Senate on 4 May 2016]

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