New Business Tax System (Thin Capitalisation) Act 2001 (Cth)

New Business Tax System (Thin Capitalisation) Act 2001

No. 162, 2001

New Business Tax System (Thin Capitalisation) Act 2001

No. 162, 2001

An Act to implement the New Business Tax System in relation to thin capitalisation, and for related purposes

Contents 1 Short title................................... 2 Commencement............................... 3 Schedule(s)..................................

Schedule 1—Thin capitalisation rules

Part 1—New thin capitalisation rules Income Tax Assessment Act 1997

Part 2—Consequential and other amendments Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Income Tax (Transitional Provisions) Act 1997

Part 3—Application provisions

Schedule 2—Dictionary amendments Income Tax Assessment Act 1997

New Business Tax System (Thin Capitalisation) Act 2001

No. 162, 2001

An Act to implement the New Business Tax System in relation to thin capitalisation, and for related purposes

[Assented to 1 October 2001]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the New Business Tax System (Thin Capitalisation) Act 2001.

2 Commencement

(1) Subject to subsections (2) and (3), this Act is taken to have commenced on 1 July 2001, immediately after the commencement of the New Business Tax System (Debt and Equity) Act 2001.

(2) Items 17 and 19 of Schedule 1 are taken to have commenced on the later of: (a) 1 July 2001, immediately after the commencement of the New Business Tax System (Debt and Equity) Act 2001; or (b) the time when the Corporations Act 2001 commences.

(3) Item 18 of Schedule 1 is taken to have commenced on the later of: (a) 1 July 2001, immediately after the commencement of the New Business Tax System (Debt and Equity) Act 2001; or (b) the time when Part 2 of the Financial Sector (Collection of Data) Act 2001 commences.