Tax and Superannuation Laws Amendment (2015 Measures No. 6) Act 2016 (Cth)

Tax and Superannuation Laws Amendment (2015 Measures No. 6) Act 2016

No. 10, 2016

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

Contents 1 Short title 2 Commencement 3 Schedules Schedule 1—CGT treatment of earnout rights Part 1—Main amendments Income Tax Assessment Act 1997 Part 2—Preserving small business concessions Income Tax Assessment Act 1997 Part 3—Other consequential amendments Income Tax Assessment Act 1997 Taxation Administration Act 1953 Taxation (Interest on Overpayments and Early Payments) Act 1983 Part 4—Application and transitional provisions Part 5—Amendments relating to foreign resident capital gains withholding payments Taxation Administration Act 1953 Schedule 2—Foreign resident capital gains withholding payments Part 1—Main amendments Taxation Administration Act 1953 Part 2—Consequential amendments Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Taxation Administration Act 1953 Part 3—Contingent amendments Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016

Tax and Superannuation Laws Amendment (2015 Measures No. 6) Act 2016 No. 10, 2016

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

[Assented to 25 February 2016]

The Parliament of Australia enacts:

1 Short title This Act may be cited as the Tax and Superannuation Laws Amendment (2015 Measures No. 6) Act 2016.

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 Provisions 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. 25 February 2016 2. Schedule 1, Parts 1 to 4 The day after this Act receives the Royal Assent. 26 February 2016 3. Schedule 1, Part 5 Immediately after the commencement of the provisions covered by table item 4. 26 February 2016 4. Schedule 2, Parts 1 and 2 The day after this Act receives the Royal Assent. 26 February 2016 5. Schedule 2, Part 3 Immediately after the commencement of Schedule 3 to the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016. 5 May 2016 However, the provisions do not commence at all if that Schedule commences at the same time as, or before, the provisions covered by table item 4.