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

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

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

[Assented to 5 May 2016]

The Parliament of Australia enacts:

1Short title

This Act may be cited as the Income Tax (Attribution Managed Investment Trusts—Offsets) Act 2016.

2Commencement

1. (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
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Note: This table relates only to the provisions of this Act as originally enacted.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.

3Imposition 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.

4Rate 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]

(227/15)