Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Act 2011 (Cth)

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Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Act 2011

No. 15, 2011

Compilation No. 1

Compilation date: 25 June 2015

Includes amendments up to: Act No. 70, 2015

Registered: 9 July 2015

About this compilation

This compilation

This is a compilation of the Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Act 2011 that shows the text of the law as amended and in force on 25 June 2015 (the compilation date).

This compilation was prepared on 30 June 2015.

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on ComLaw ( The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on ComLaw for the compiled law.

Application, saving and transitional provisions for provisions and amendments

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

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on ComLaw for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

An Act to amend the Income Tax Rates Act 1986, and for related purposes

1Short title

This Act may be cited as the Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Act 2011.

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

Provision(s)

Commencement

Date/Details

1.

Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

12 April 2011

2.

Schedule 1

At the same time as Schedule 1 to the Tax Laws Amendment (Temporary Flood and Cyclone Reconstruction Levy) Act 2011 commences.

12 April 2011

3.

Schedule 2

At the same time as Schedule 2 to the Tax Laws Amendment (Temporary Flood and Cyclone Reconstruction Levy) Act 2011 commences.

1 July 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.

  1. (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.

3Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1Main amendment

Income Tax Rates Act 1986

  1. 1

    At the end of Subdivision B of Division 3 of Part II

    Add:

12BRate of temporary flood and cyclone reconstruction levy

The rate of extra income tax payable as mentioned in section 4‑10 of the Income Tax (Transitional Provisions) Act 1997 (temporary flood and cyclone reconstruction levy) for the 2011‑12 financial year on a taxpayer’s taxable income for the 2011‑12 year of income is the rate applicable under the table.

Rate of temporary flood and cyclone reconstruction levy

Item

For the part of the taxable income of the taxpayer that:

The rate is:

1

exceeds $50,000 but does not exceed $100,000

0.5%

2

exceeds $100,000

1%

Schedule 2Sunsetting

Income Tax Rates Act 1986

1

Section 12C

Repeal the section.

Endnotes

Endnote 1About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Endnotes about misdescribed amendments and other matters are included in a compilation only as necessary.

Abbreviation key—Endnote 2

The abbreviation key 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 (or will amend) the compiled law. The information includes commencement details for amending laws and details of any 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 (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation “(md)” added to the details of the amendment included in the amendment history.

If a misdescribed amendment cannot be given effect as intended, the amendment is set out in the endnotes.

Endnote 2Abbreviation key

A = Act

orig = original

ad = added or inserted

par = paragraph(s)/subparagraph(s)

am = amended

/sub‑subparagraph(s)

amdt = amendment

pres = present

c = clause(s)

prev = previous

C[x] = Compilation No. x

(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 = expires/expired or ceases/ceased to have

rep = repealed

effect

rs = repealed and substituted

F = Federal Register of Legislative Instruments

s = section(s)/subsection(s)

gaz = gazette

Sch = Schedule(s)

LI = Legislative Instrument

Sdiv = Subdivision(s)

LIA = Legislative Instruments Act 2003

SLI = Select Legislative Instrument

(md) = misdescribed amendment

SR = Statutory Rules

mod = modified/modification

Sub‑Ch = Sub‑Chapter(s)

No. = Number(s)

SubPt = Subpart(s)

o = order(s)

underlining = whole or part not

Ord = Ordinance

commenced or to be commenced

Endnote 3Legislation history

Act

Number and year

Assent

Commencement

Application, saving and transitional provisions

Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Act 2011

15, 2011

12 Apr 2011

Sch 2: 1 July 2016 (s 2(1) item 3)

Remainder: 12 Apr 2011 (s 2(1) items 1, 2)

Tax and Superannuation Laws Amendment (2015 Measures No. 1) Act 2015

70, 2015

25 June 2015

Sch 6 (item 40): 25 June 2015 (s 2(1) item 13)

Endnote 4Amendment history

Provision affected

How affected

Schedule 2

item 1.................................

am No 70, 2015

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