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TREASURY LAWS AMENDMENT (2020 MEASURES NO. 6) ACT 2020 - NOTES

No. 141, 2020

Compilation No. 1

Compilation date: 17 December 2020

Includes amendments up to: Act No. 127, 2021

Registered: 14 December 2021

About this compilation

This compilation

This is a compilation of the Treasury Laws Amendment (2020 Measures No. 6) Act 2020 that shows the text of the law as amended and in force on 17 December 2020 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.

Self-repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

 

 

 

Contents

1 Short title

2 Commencement

3 Schedules

Schedule 1--Temporary full expensing of depreciating assets and other amendments

Part 1--Main amendments

Income Tax Assessment Act 1997

Income Tax (Transitional Provisions) Act 1997

Part 2--Technical amendments

Income Tax (Transitional Provisions) Act 1997

Schedule 2--Amendments of the consumer data right

Part 1--Initial amendments

Competition and Consumer Act 2010

Part 2--Later amendments

Competition and Consumer Act 2010

Schedule 3--Incentivising charities to join the National Redress Scheme

Australian Charities and Not-for-profits Commission Act 2012

Schedule 4--Minor and technical amendments

Part 1--Amendments commencing day after Royal Assent

Division 1--Amendments

Australian Charities and Not-for-profits Commission Act 2012

Australian Securities and Investments Commission Act 2001

Business Names Registration Act 2011

Commonwealth Grants Commission Act 1973

Competition and Consumer Act 2010

Corporations Act 2001

Life Insurance Act 1995

National Consumer Credit Protection Act 2009

National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009

Superannuation Guarantee (Administration) Act 1992

Superannuation Industry (Supervision) Act 1993

Superannuation (Unclaimed Money and Lost Members) Act 1999

Taxation Administration Act 1953

Division 2--Repeals of Acts

Bills of Exchange Act 1971

Census and Statistics Act 1920

Census and Statistics Act 1930

Commonwealth Grants Commission Act 1976

Commonwealth Inscribed Stock Act 1913

Excise Act 1962

Income Tax Assessment Act (No. 2) 1969

Income Tax (International Agreements) Act 1960

International Finance Corporation Act 1961

International Finance Corporation Act 1963

International Finance Corporation Act 1966

Sales Tax Assessment Act (No. 1A) 1930

Sales Tax (Exemptions and Classifications) Act 1960

States Grants (Coal Mining Industry Long Service Leave) Act 1961

States Grants (Coal Mining Industry Long Service Leave) Act 1968

States Grants (Petroleum Products) Act 1969

States Grants (Petroleum Products) Act (No. 2) 1965

Trade Practices Act 1975

Part 2--Amendments commencing first day of first quarter after Royal Assent

Income Tax Assessment Act 1997

Tax Agent Services Act 2009

Part 3--Amendments with other commencements

Corporations (Aboriginal and Torres Strait Islander) Act 2006

Corporations Act 2001

Income Tax Assessment Act 1936

Superannuation Industry (Supervision) Act 1993

Taxation Administration Act 1953

Part 4--Application of amendments

Endnotes

Endnote 1--About the endnotes

Endnote 2--Abbreviation key

Endnote 3--Legislation history

Endnote 4--Amendment history

Endnotes

Endnote 1--About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1--About the endnotes

Endnote 2--Abbreviation key

Endnote 3--Legislation history

Endnote 4--Amendment history

Abbreviation key--Endnote 2

The abbreviation key 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 (or will amend) the compiled law. The information includes commencement details for amending laws and details of any 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 (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Editorial changes

The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.

If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation "(md)" added to the details of the amendment included in the amendment history.

If a misdescribed amendment cannot be given effect as intended, the abbreviation "(md not incorp)" is added to the details of the amendment included in the amendment history.

 

Endnote 2--Abbreviation key

ad = added or inserted

o = order(s)

am = amended

Ord = Ordinance

amdt = amendment

orig = original

c = clause(s)

par = paragraph(s)/subparagraph(s)

C[x] = Compilation No. x

/sub-subparagraph(s)

Ch = Chapter(s)

pres = present

def = definition(s)

prev = previous

Dict = Dictionary

(prev ... ) = previously

disallowed = disallowed by Parliament

Pt = Part(s)

Div = Division(s)

r = regulation(s)/rule(s)

ed = editorial change

reloc = relocated

exp = expires/expired or ceases/ceased to have

renum = renumbered

effect

rep = repealed

F = Federal Register of Legislation

rs = repealed and substituted

gaz = gazette

s = section(s)/subsection(s)

LA = Legislation Act 2003

Sch = Schedule(s)

LIA = Legislative Instruments Act 2003

Sdiv = Subdivision(s)

(md) = misdescribed amendment can be given

SLI = Select Legislative Instrument

effect

SR = Statutory Rules

(md not incorp) = misdescribed amendment

Sub-Ch = Sub-Chapter(s)

cannot be given effect

SubPt = Subpart(s)

mod = modified/modification

underlining = whole or part not

No. = Number(s)

commenced or to be commenced

 

Endnote 3--Legislation history

 

Act

Number and year

Assent

Commencement

Application, saving and transitional provisions

Treasury Laws Amendment (2020 Measures No. 6) Act 2020

141, 2020

17 Dec 2020

Sch 1 and Sch 4 (items 82-111): 1 Jan 2021 (s 2(1) items 2, 7)
Sch 2 (items 1-29) and Sch 4 (items 1-81, 145, 146): 18 Dec 2020 (s 2(1) items 3, 6, 16)
Sch 2 (items 30-45): 28 Feb 2021 (s 2(1) item 4)
Sch 3: 17 Mar 2021 (s 2(1) item 5)
Sch 4 (items 112, 113, 123-126, 143, 144): 4 Apr 2021 (s 2(1) items 8, 13, 15)
Sch 4 (items 114-120, 127-142): awaiting commencement (s 2(1) items 9, 10, 14)
Sch 4 (item 121): 5 Apr 2021 (s 2(1) item 11)
Sch 4 (item 122): 28 Sept 2022 (s 2(1) item 12)
Remainder: 17 Dec 2020 (s 2(1) item 1)

 

Treasury Laws Amendment (2021 Measures No. 5) Act 2021

127, 2021

7 Dec 2021

Sch 3 (items 107, 108): 17 Dec 2020 (s 2(1) item 9)

--

 

Endnote 4--Amendment history

 

Provision affected

How affected

s 2.....................

am No 127, 2021

 


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