Commonwealth: Income Tax (Attribution Managed Investment Trusts—Offsets) Act 2016 (Cth)

Income Tax (Attribution Managed Investment Trusts—Offsets) Act 2016 No. 48, 2016 An Act to impose tax in relation to amounts of a character relating to a tax offset, and for related purposes Contents 1 Short title 2 Commencement 3 Imposition of tax 4 Rate of tax Income Tax (Attribution Managed Investment Trusts—Offsets) Act 2016 No. 48, 2016 An Act to impose tax in relation to amounts of a character relating to a tax offset, and for related purposes [Assented to 5 May 2016] The Parliament of Australia enacts: 1 Short title This Act may be cited as the Income Tax (Attribution Managed Investment Trusts—Offsets) 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 and 2 and anything in this Act not elsewhere covered by this table The day this Act receives the Royal Assent. 5 May 2016 2. Sections 3 and 4 At the same time as Schedule 1 to the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 commences. 5 May 2016 However, if that Schedule does not commence, the provisions do not commence at all. Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act. (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act. 3 Imposition of tax Tax payable in accordance with subsection 276‑340(2), 276‑410(2), 276‑425(2) or 276‑820(6) of the Income Tax Assessment Act 1997 is imposed. 4 Rate of tax The rate of tax imposed by this Act is 100%. [Minister's second reading speech made in— House of Representatives on 3 December 2015 Senate on 4 May 2016] (227/15)