Fundamental Tax Legislation 2019

Description

TITLE PAGE HOW TO USE PREFACE ACKNOWLEDGMENTS TABLE OF CONTENTS KEY TAX FORMULAE TAX RATES AND TABLES 2019 YEAR IN REVIEW – 2018 INCOME TAX ASSESSMENT ACT 1997 INCOME TAX ASSESSMENT ACT 1997 CHAPTER 1 – INTRODUCTION AND CORE PROVISIONS Part 1-1 – Preliminary Part 1-2 – A Guide to this Act Part 1-3 – Core provisions Part 1-4 – Checklists of what is covered by concepts used in the core provisions CHAPTER 2 – LIABILITY RULES OF GENERAL APPLICATION Part 2-1 – Assessable income Part 2-5 – Rules about deductibility of particular kinds of amounts Part 2-10 – Capital allowances: rules about deductibility of capital expenditure Part 2-15 – Non-assessable income Part 2-20 – Tax offsets Part 2-25 – Trading stock Part 2-40 – Rules affecting employees and other taxpayers receiving PAYG withholding payments Part 2-42 – Personal services income CHAPTER 3 – SPECIALIST LIABILITY RULES Part 3-1 – Capital gains and losses: general topics Part 3-3 – Capital gains and losses: special topics Part 3-5 – Corporate taxpayers and corporate distributions Part 3-6 – The imputation system Part 3-10 – Financial transactions Part 3-25 – Particular kinds of trusts Part 3-30 – Superannuation Part 3-45 – Rules for particular industries and occupations Part 3-90 – Consolidated groups Part 3-95 – Value shifting CHAPTER 4 – INTERNATIONAL ASPECTS OF INCOME TAX Part 4-5 – General CHAPTER 5 – ADMINISTRATION Part 5-30 – Record-keeping and other obligations CHAPTER 6 – THE DICTIONARY Part 6-1 – Concepts and topics Part 6-5 – Dictionary definitions INCOME TAX ASSESSMENT ACT 1936 Part I – Preliminary Part II – Administration PART III – LIABILITY TO TAXATION Part IIIB – Australian branches of foreign banks Part IV – Returns and assessments Part IVA – Schemes to reduce income tax Part VA – Tax file numbers Part VIIB – Medicare levy and Medicare levy surcharge Part VIII – Miscellaneous Part X – Attribution of income in respect of controlled foreign companies INCOME TAX ASSESSMENT (1936 ACT) REGULATION 2015 Part 1 – Preliminary Part 5 – Rebates Part 8 – Attribution of income in respect of controlled foreign companies INCOME TAX RATES ACT 1986 Part I – Preliminary Part II – Rates of income tax payable upon incomes other than incomes of companies, prescribed unit trusts, superannuation funds and certain other trusts Part III – Rates of income tax payable upon incomes of companies, prescribed unit trusts, superannuation funds and certain other trusts MEDICARE LEVY ACT 1986 A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 CHAPTER 1 – INTRODUCTION Part 1-1 – Preliminary Part 1-2 – Using this Act CHAPTER 2 – THE BASIC RULES Part 2-1 – The central provisions Part 2-2 – Supplies and acquisitions Part 2-3 – Importations Part 2-4 – Net amounts and adjustments Part 2-5 – Registration Part 2-6 – Tax periods Part 2-7 – Returns, payments and refunds CHAPTER 3 – THE EXEMPTIONS Part 3-1 – Supplies that are not taxable supplies CHAPTER 4 – THE SPECIAL RULES Part 4-1 – Special rules mainly about particular ways entities are organised Part 4-2 – Special rules mainly about supplies and acquisitions Part 4-4 – Special rules mainly about net amounts and adjustments Part 4-6 – Special rules mainly about tax periods Part 4-7 – Special rules mainly about returns, payments and refunds CHAPTER 5 – MISCELLANEOUS Part 5-1 – Miscellaneous CHAPTER 6 – INTERPRETING THIS ACT Part 6-2 – Meaning of some important concepts Part 6-3 – Dictionary A NEW TAX SYSTEM (GOODS AND SERVICES TAX) REGULATIONS 1999 Part 2-5 – Registration Part 2-6 – Tax periods Part 3-1 – Supplies that are not taxable supplies Part 4-2 – Special rules mainly about supplies and acquisitions FRINGE BENEFITS TAX ACT 1986 FRINGE BENEFITS TAX ASSESSMENT ACT 1986 Part I – Preliminary Part II – Administration Part IIA – Core provisions Part III – Fringe benefits Part IIIA – Rebates of tax Part IV – Liability to tax Part V – Returns and assessments Part VII – Collection and recovery of tax Part XII – Interpretation SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 Part 1 – Preliminary Part 3 – Operating standards Part 3A – Prudential standards Part 3B – Superannuation data and payment regulations and standards Part 5 – Notices about complying fund status Part 7 – Provisions applying only to regulated superannuation funds SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 Part 5 – Benefit protection standards Part 6 – Payment standards Part 7 – Contribution and benefit accrual standards (regulated superannuation funds) SUPERANNUATION GUARANTEE (ADMINISTRATION) ACT 1992 Part 2 – Explanation of terms used in the Act Part 3 – Liability of employers other than the Commonwealth and tax-exempt Commonwealth authorities to pay superannuation guarantee charge Part 3A – Choice of fund requirements Part 4 – Superannuation guarantee statements and assessments Part 6 – Collection and recovery of charge Part 8 – Payments of amounts of shortfall components for the benefit of employees INTERNATIONAL TAX AGREEMENTS ACT 1953 PROTOCOL INCOME TAX (DIVIDENDS, INTEREST AND ROYALTIES WITHHOLDING TAX) ACT 1974 TAXATION ADMINISTRATION ACT 1953 Part I – Preliminary Part IA – Administration Part IIA – The general interest charge Part IIB – Running balance accounts, application of payments and credits, and related matters Part III – Prosecutions and offences Part IVA – Departure from Australia of certain tax debtors Part IVC – Taxation objections, reviews and appeals PART 2-5 – PAY AS YOU GO (PAYG) WITHHOLDING PART 2-35 – EXCESS SUPERANNUATION CONTRIBUTIONS PART 4-15 – COLLECTION AND RECOVERY OF TAX-RELATED LIABILITIES AND OTHER AMOUNTS PART 4-25 – CHARGES AND PENALTIES PART 5-5 – RULINGS PART 5-25 – RECORD-KEEPING AND OTHER OBLIGATIONS RELATING TO TAXPAYERS TAXATION ADMINISTRATION REGULATIONS 2017 Part 3 – Income tax (Chapter 2 in Schedule 1 to the Act) INCOME TAX ACT 1986 INSPECTOR-GENERAL OF TAXATION ACT 2003 Part 1 – Preliminary Part 2 – Establishment and functions of the Inspector-General of Taxation Part 5 – Other matters TAX AGENT SERVICES ACT 2009 Part 1 – Introduction Part 2 – Registration Part 3 – The Code of Professional Conduct Part 4 – Termination of registration Part 5 – Civil penalties Part 6 – The Tax Practitioners Board Part 7 – Miscellaneous Part 8 – Interpretation TAX AGENT SERVICES REGULATIONS 2009 Part 1A – Recognition of professional associations Part 2 – Registration Part 4 – The Tax Practitioners Board