Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Act 2019 (Cth)

Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Act 2019

No. 129, 2019

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

Contents 1 Short title 2 Commencement 3 Schedules Schedule 1—Capital gains tax changes for foreign residents Part 1—Main residence exemption Income Tax Assessment Act 1997 Income Tax (Transitional Provisions) Act 1997 Part 2—Principal asset test Income Tax Assessment Act 1997 Schedule 2—Additional capital gains discount for affordable housing Income Tax Assessment Act 1997 Schedule 3—Near‑new dwelling interests Part 1—Amendments Foreign Acquisitions and Takeovers Act 1975 Part 2—Application and transitional provisions

Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Act 2019 No. 129, 2019

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

[Assented to 12 December 2019]

The Parliament of Australia enacts:

1 Short title This Act is the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Act 2019.

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. 12 December 2019 2. Schedules 1 and 2 The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent. 1 January 2020 3. Schedule 3 The day after this Act receives the Royal Assent. 13 December 2019