Business Services Wage Assessment Tool Payment Scheme (Consequential Amendments) Act 2015
No. 112, 2015
An Act to deal with consequential matters arising in connection with the Business Services Wage Assessment Tool Payment Scheme Act 2015, and for related purposes
Contents
1 Short title
2 Commencement
3 Schedule(s)
Schedule 1—Amendments
Income Tax Assessment Act 1936
Social Security Act 1991
Social Security (Administration) Act 1999
Veterans’ Entitlements Act 1986
Business Services Wage Assessment Tool Payment Scheme (Consequential Amendments) Act 2015
No. 112, 2015
An Act to deal with consequential matters arising in connection with the Business Services Wage Assessment Tool Payment Scheme Act 2015, and for related purposes
[Assented to 30 June 2015]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Business Services Wage Assessment Tool Payment Scheme (Consequential Amendments) Act 2015.
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 |
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. | 30 June 2015 |
2. Schedule 1 | At the same time as the Business Services Wage Assessment Tool Payment Scheme Act 2015 commences. | 1 July 2015 |
Note: This table relates only to the provisions of this Act as originally enacted.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 Schedule(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Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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 1—Amendments
Income Tax Assessment Act 1936
1 Subsection 159ZR(1)
Insert:
BSWAT payment amount means a payment amount paid to a person under the Business Services Wage Assessment Tool Payment Scheme Act 2015.
2 At the end of section 159ZR
Add:
(2) This Subdivision applies in relation to a BSWAT payment amount as if:
(a) the BSWAT payment amount were an eligible lump sum accrued wholly in an earlier year or years of income; and
(b) the wages by reference to which the BSWAT payment amount was worked out were eligible income accrued in the year of income to which the wages relate.
Social Security Act 1991
3 After paragraph 8(8)(ja)
Insert:
(jb) a payment under the Business Services Wage Assessment Tool Payment Scheme Act 2015;
Social Security (Administration) Act 1999
4 At the end of subsection 202(1)
Add:
; or (g) the Business Services Wage Assessment Tool Payment Scheme Act 2015.
5 After paragraph 202(2)(dc)
Insert:
(dd) for the purposes of the Business Services Wage Assessment Tool Payment Scheme Act 2015; or
Veterans’ Entitlements Act 1986
6 After paragraph 5H(8)(m)
Insert:
(ma) a payment under the Business Services Wage Assessment Tool Payment Scheme Act 2015;
[Minister’s second reading speech made in—
House of Representatives on 5 June 2014
Senate on 19 June 2014]
Overview
The Business Services Wage Assessment Tool Payment Scheme (Consequential Amendments) Act 2015 was enacted to address the consequential matters arising from the introduction of the Business Services Wage Assessment Tool Payment Scheme Act 2015. This legislation was passed by the Parliament of Australia and received Royal Assent on 30 June 2015. The primary purpose of the Act is to make necessary amendments to several existing Acts, including the Income Tax Assessment Act 1936, the Social Security Act 1991, the Social Security (Administration) Act 1999, and the Veterans’ Entitlements Act 1986, to ensure consistency and proper application of the new wage assessment tool. The Act includes specific amendments to these Acts to reflect the changes introduced by the primary legislation, ensuring that the new scheme operates smoothly within the existing legal framework.
Scope and Application
The Business Services Wage Assessment Tool Payment Scheme (Consequential Amendments) Act 2015 applies to several key Acts, including the Income Tax Assessment Act 1936, the Social Security Act 1991, the Social Security (Administration) Act 1999, and the Veterans’ Entitlements Act 1986, to amend these Acts to account for payments made under the Business Services Wage Assessment Tool Payment Scheme Act 2015. This Act ensures that the payments made under the new scheme are appropriately treated for tax, social security, and veterans' entitlement purposes. The amendments address the tax treatment of payments as eligible lump sums, the inclusion of such payments in social security and veterans' entitlement assessments, and the overall legal framework governing these payments. The Act applies on a Commonwealth level and its provisions commenced on 1 July 2015, aligning with the commencement of the primary scheme. There are no specific exclusions or thresholds mentioned within the Act, and it does not extend or restrict its application through subordinate instruments.
Key Provisions
The Business Services Wage Assessment Tool Payment Scheme (Consequential Amendments) Act 2015 (hereafter referred to as the Act) introduces consequential amendments to various Acts to align with the Business Services Wage Assessment Tool Payment Scheme Act 2015. The primary sections of the Act specify the commencement dates for its provisions, with the general sections coming into effect on the day of Royal Assent, 30 June 2015, and the Schedule taking effect on 1 July 2015, the same date as the commencement of the main Scheme Act. The Act aims to modify or repeal specified provisions in the Income Tax Assessment Act 1936, Social Security Act 1991, Social Security (Administration) Act 1999, and Veterans’ Entitlements Act 1986 to ensure consistency and coherence with the new payment scheme.
The Act imposes specific obligations on the entities it governs by making amendments to the existing Acts. For instance, in the Income Tax Assessment Act 1936, it defines a 'BSWAT payment amount' as a payment made under the Business Services Wage Assessment Tool Payment Scheme Act 2015 and applies certain tax rules to these payments as if they were eligible lump sums. Similarly, the Social Security Act 1991 is amended to include payments under the Scheme Act within its provisions, and the Social Security (Administration) Act 1999 is adjusted to include references to the Scheme Act. The Veterans’ Entitlements Act 1986 also receives amendments to incorporate payments made under the new scheme into its framework. These amendments ensure that the new payment scheme is integrated smoothly with existing legislative requirements.
Breach of the provisions under this Act could lead to various consequences, depending on the specific regulations and Acts involved. For example, non-compliance with tax provisions in the amended Income Tax Assessment Act 1936 could result in penalties under that Act. The Social Security Act 1991 and the Veterans’ Entitlements Act 1986 also have their own sets of penalties and consequences for non-compliance. While the Act itself does not specify particular penalties, the existing Acts provide a framework for enforcement and penalties, which could include fines or other civil and criminal consequences. The exact penalties would be determined according to the provisions of the respective Acts.