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This is a Bill, not an Act. For current law, see the Acts databases.
1998-99
The Parliament of
the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
A New Tax
System (Ultimate Beneficiary Non-disclosure Tax) Bill (No. 2)
1999
No. ,
1999
(Treasury)
A Bill
for an Act to implement A New Tax System by imposing ultimate beneficiary
non-disclosure tax, and for related purposes
ISBN: 0642 400377
Contents
A Bill for an Act to implement A New Tax System by
imposing ultimate beneficiary non-disclosure tax, and for related
purposes
The Parliament of Australia enacts:
This Act may be cited as the A New Tax System (Ultimate Beneficiary
Non-disclosure Tax) Act (No. 2) 1999.
This Act commences, or is taken to have commenced, on the day on which
the A New Tax System (Closely Held Trusts) Act 1999 commences.
Tax payable under paragraph 102UM(2)(a) of the Income Tax Assessment
Act 1936 is imposed on the whole or the part of a share of the net income of
a trust as mentioned in that paragraph.
The rate of tax imposed by this Act on the whole or the part of the share
of the net income is 48.5%.