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This is a Bill, not an Act. For current law, see the Acts databases.
2002
The Parliament of
the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
New
Business Tax System (Over-franking Tax) Bill
2002
No. ,
2002
(Treasury)
A Bill
for an Act to impose over-franking tax, and for related
purposes
Contents
A Bill for an Act to impose over-franking tax, and for
related purposes
The Parliament of Australia enacts:
This Act may be cited as the New Business Tax System (Over-franking
Tax) Act 2002.
This Act commences on the day on which it receives the Royal
Assent.
In this Act:
over-franking tax means over-franking tax payable under
paragraph 203-50(1)(a) of the Income Tax Assessment Act 1997.
Over-franking tax is imposed.
The amount of the tax imposed by this Act is equal to the amount worked
out under paragraph 203-50(2)(a) of the Income Tax Assessment Act
1997.