Taxation Laws Amendment Act (No. 5) 2000 (Cth)

Taxation Laws Amendment Act (No. 5) 2000

Act No. 43 of 2000 as amended

This compilation was prepared on 3 September 2010 taking into account amendments up to Act No. 75 of 2010

The text of any of those amendments not in force on that date is appended in the Notes section

The operation of amendments that have been incorporated may be affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting and Publishing, Attorney‑General's Department, Canberra

Contents 1 Short title [see Note 1] 2 Commencement [see Note 1] 3 Schedule(s)

Schedule 1—Motor vehicles for transporting disabled persons Sales Tax Assessment Act 1992

Schedule 2—Employee Share Schemes Income Tax Assessment Act 1936

Schedule 3—Closely held trusts Income Tax Assessment Act 1936

Notes An Act to amend the law relating to taxation, and for related purposes

1 Short title [see Note 1]

This Act may be cited as the Taxation Laws Amendment Act (No. 5) 2000.

2 Commencement [see Note 1]

This Act commences on the day on which it receives the Royal Assent.

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Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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

Sales Tax Assessment Act 1992

1 After section 49 Insert:

49A Motor vehicles for transporting disabled persons

(1) This section applies to motor vehicles: (a) designed or adapted for driving by a person who is suffering from a physical impairment; or (b) designed or adapted for transporting a person who is suffering from a physical impairment.

(2) The exempt part is so much of the taxable value as represents the additional cost of manufacturing the motor vehicle resulting solely from the vehicle being designed or adapted for the purpose of: (a) it being driven by a person who is suffering from a physical impairment; or (b) it being used for the transportation of a person who is suffering from a physical impairment.