Commonwealth Consolidated Acts Commonwealth Consolidated ActsNo. 90, 2002 as amended
Compilation start date: 29 June 2010
Includes amendments up to: Act No 110, 2014
About this compilation
This compilation
This is a compilation of the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 as in force on 29 June 2010. It includes any commenced amendment affecting the legislation to that date.
This compilation was prepared on 23 October 2014.
The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of each amended provision.
Uncommenced amendments
The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in the endnotes.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Modifications
If a provision of the compiled law is affected by a modification that is in force, details are included in the endnotes.
Provisions ceasing to have effect
If a provision of the compiled law has expired or otherwise ceased to have effect in accordance with a provision of the law, details are included in the endnotes.
Contents
1 Short title
2 Commencement
3 Schedule(s)
Schedule 1--Consolidation: membership rules
Income Tax Assessment Act 1997
Schedule 2--Consolidation: miscellaneous changes to asset cost provisions
Income Tax Assessment Act 1997
Schedule 3--Consolidation: new Subdivision 705-B (tax cost setting amount on group formation)
Income Tax Assessment Act 1997
Schedule 4--Consolidation: reset cost base assets held on revenue account
Income Tax Assessment Act 1997
Schedule 5--Consolidation: imputation
Income Tax Assessment Act 1997
Schedule 6--Consolidation: international tax
Income Tax Assessment Act 1997
Schedule 7--Consolidation: application and transitional asset cost provisions
Income Tax (Transitional Provisions) Act 1997
Schedule 8--Consolidation: amendment of transitional provisions for losses
Income Tax (Transitional Provisions) Act 1997
Schedule 9--Consolidation: transitional provisions for international tax
Income Tax (Transitional Provisions) Act 1997
Schedule 10--Consolidation: consequential provisions for international tax
Income Tax Assessment Act 1936
Schedule 11--Consolidation: amendment of transitional provision about limiting access to group concessions
New Business Tax System (Consolidation) Act (No. 1) 2002
Schedule 12--Consolidation: amendments of Dictionary
Income Tax Assessment Act 1997
Schedule 13--Exempting entities and former exempting entities
Income Tax Assessment Act 1997
Schedule 14--Loss integrity rules: global method of valuing assets
Part 1--Income Tax Assessment Act 1997
Part 2--Income Tax (Transitional Provisions) Act 1997
Part 3--Dictionary amendments
Income Tax Assessment Act 1997
Part 4--Application of amendments
Schedule 15--Value shifting
Part 1--New Divisions inserted in the Income Tax Assessment Act 1997
Part 2--Amendment of the Income Tax (Transitional Provisions) Act 1997
Part 3--Consequential amendment of the Income Tax Assessment Act 1997
Division 1--Amendments
Division 2--Saving and transitional provisions
Part 4--Consequential amendment of the Income Tax Assessment Act 1936
Part 5--Dictionary amendments
Income Tax Assessment Act 1997
Schedule 16--Demerger relief
Part 1--CGT relief
Income Tax Assessment Act 1997
Part 2--Dividend relief
Income Tax Assessment Act 1936
Part 3--Consequential amendments
Income Tax Assessment Act 1997
Part 4--Transitional
Part 5--Application
Endnotes
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
Endnote 5--Uncommenced amendments [none]
Endnote 6--Modifications [none]
Endnote 7--Misdescribed amendments [none]
Endnote 8--Miscellaneous [none]
The endnotes provide details of the history of this legislation and its provisions. The following endnotes are included in each compilation:
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
Endnote 5--Uncommenced amendments
Endnote 6--Modifications
Endnote 7--Misdescribed amendments
Endnote 8--Miscellaneous
If there is no information under a particular endnote, the word "none" will appear in square brackets after the endnote heading.
Abbreviation key--Endnote 2
The abbreviation key in this endnote sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history--Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended the compiled law. The information includes commencement information for amending laws and details of application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision level. It also includes information about any provisions that have expired or otherwise ceased to have effect in accordance with a provision of the compiled law.
Uncommenced amendments--Endnote 5
The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in endnote 5.
Modifications--Endnote 6
If the compiled law is affected by a modification that is in force, details of the modification are included in endnote 6.
Misdescribed amendments--Endnote 7
An amendment is a misdescribed amendment if the effect of the amendment cannot be incorporated into the text of the compilation. Any misdescribed amendment is included in endnote 7.
Miscellaneous--Endnote 8
Endnote 8 includes any additional information that may be helpful for a reader of the compilation.
ad = added or inserted | pres = present |
am = amended | prev = previous |
c = clause(s) | (prev) = previously |
Ch = Chapter(s) | Pt = Part(s) |
def = definition(s) | r = regulation(s)/rule(s) |
Dict = Dictionary | Reg = Regulation/Regulations |
disallowed = disallowed by Parliament | reloc = relocated |
Div = Division(s) | renum = renumbered |
exp = expired or ceased to have effect | rep = repealed |
hdg = heading(s) | rs = repealed and substituted |
LI = Legislative Instrument | s = section(s) |
Sch = Schedule(s) | |
mod = modified/modification | Sdiv = Subdivision(s) |
No = Number(s) | SLI = Select Legislative Instrument |
o = order(s) | SR = Statutory Rules |
Ord = Ordinance | Sub-Ch = Sub-Chapter(s) |
orig = original | SubPt = Subpart(s) |
par = paragraph(s)/subparagraph(s) |
|
Endnote 3--Legislation history
Act | Number and year | Assent | Commencement | Application, saving and transitional provisions |
New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 | 90, 2002 | 24 Oct 2002 | See s. 2(1) |
|
New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 | 117, 2002 | 2 Dec 2002 | Schedule 15 (items 2-4): (a) | -- |
New Business Tax System (Consolidation and Other Measures) Act 2003 | 16, 2003 | 11 Apr 2003 | Schedule 18: (b) | -- |
Taxation Laws Amendment Act (No. 6) 2003 | 67, 2003 | 30 June 2003 | Schedule 8: Royal Assent | Sch. 8 (item 3) |
Tax Laws Amendment (2010 Measures No. 2) Act 2010 | 75, 2010 | 28 June 2010 | Schedule 6 (item 15): 29 June 2010 | -- |
Tax and Superannuation Laws Amendment (2014 Measures No. 4) Act 2014 | 110, 2014 | 16 Oct 2014 | Sch 5 (items 141, 142): 29 June 2002 (s 2(1) item 8) | -- |
(a) Subsection 2(1) (item 9) of the New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, on the day or at the time specified in column 2 of the table.
Commencement information | ||
Column 1 | Column 2 | Column 3 |
Provision(s) | Commencement | Date/Details |
9. Schedules 6 to 15 | Immediately after the commencement of Schedule 1 to the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 | 24 October 2002 |
(b) Subsection 2(1) (item 10) of the New Business Tax System (Consolidation and Other Measures) Act 2003 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, on the day or at the time specified in column 2 of the table.
Provision(s) | Commencement | Date/Details |
10. Schedules 15 to 18 | Immediately after the commencement of Schedule 1 to the New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 | 24 October 2002 |
Provision affected | How affected |
s. 4..................... | rep. No. 75, 2010 |
Schedule 10 |
|
Note to item 2............. | ad. No. 117, 2002 |
Note to item 3............. | ad. No. 117, 2002 |
Items 5-10................ | ad. No. 117, 2002 |
Item 11.................. | ad. No. 16, 2003 |
Sch 13 |
|
hdg to item 34............. | rs No 110, 2014 |
Item 34.................. | am No 110, 2014 |
Schedule 15 |
|
Items 1, 2................ | am. No. 67, 2003 |
hdg to item 19............. | rs No 110, 2014 |
Endnote 5--Uncommenced amendments [none]
Endnote 6--Modifications [none]
Endnote 7--Misdescribed amendments [none]
Endnote 8--Miscellaneous [none]