Second Reading Speeches

Income Tax Rates Amendment (Sovereign Entities) Bill 2018

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
45

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Summary

Introduced with the Treasury Laws Amendment (Making Sure Foreign Investors Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2018 and Income Tax (Managed Investment Trust Withholding Tax) Amendment Bill 2018, the bill amends the

Income Tax Rates Act 1986
to specify that sovereign entities are liable to income tax on taxable income at a rate of 30 per cent.