Tax Laws Amendment (2012 Measures No. 5) Act 2012 (Cth)

Tax Laws Amendment (2012 Measures No. 5) Act 2012

No. 184, 2012

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

Contents 1 Short title 2 Commencement 3 Schedule(s) Schedule 1—Conservation tillage refundable tax offset Income Tax Assessment Act 1997 Schedule 2—Mature age worker tax offset Income Tax Assessment Act 1997 Schedule 5—Deductible gift recipients Income Tax Assessment Act 1997 Schedule 6—Wine equalisation tax Part 1—Producer rebates A New Tax System (Wine Equalisation Tax) Act 1999 Part 2—Technical amendments A New Tax System (Wine Equalisation Tax) Act 1999

Tax Laws Amendment (2012 Measures No. 5) Act 2012 No. 184, 2012

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

[Assented to 10 December 2012]

The Parliament of Australia enacts:

1 Short title This Act may be cited as the Tax Laws Amendment (2012 Measures No. 5) Act 2012.

2 Commencement This Act commences on the day this Act 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3 Schedule(s) Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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—Conservation tillage refundable tax offset

Income Tax Assessment Act 1997

1 Section 385‑235 After "comprising", insert "the tool, or".

2 Application of amendment The amendment made by this Schedule applies to: (a) the 2012‑13 income year; and (b) the 2013‑14 income year; and (c) the 2014‑15 income year.

Schedule 2—Mature age worker tax offset

Income Tax Assessment Act 1997

1 Section 61‑550 Omit "is aged 55 or over at the end of the income year and who has worked during the", substitute "was born on or before 30 June 1957 and who has worked during the current".

2 Section 61‑555 Omit "aged 55 or over", substitute "born on or before 30 June 1957".