Capital Works (Build to Rent Misuse Tax) Act 2024

2 Commencement

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.

Note: This table relates only to the provisions of this Act as originally enacted.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.

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 Definitions

In this Act:

build to rent misuse amount has the same meaning as in the Income Tax Assessment Act 1997.

income year has the same meaning as in the Income Tax Assessment Act 1997.

4 Imposition of tax

Tax payable under Income Tax Assessment Act 1997 is imposed.section 44-15 of the

5 Amount of tax

The amount of tax is 1.5% of the build to rent misuse amount for the income year.

[Minister’s second reading speech made in—

House of Representatives on 5 June 2024

Senate on 28 November 2024]

(64/24)