Summary
Introduced with the Pay As You Go Withholding Non-compliance Tax Bill 2011, the bill amends the:
Income Tax Assessment Act 1997
to provide the Commissioner of Taxation with discretion to disregard certain events that would otherwise trigger the assessment of certain income for a primary production trust in the year of the event;
Petroleum Resource Rent Tax Assessment Act 1987
to clarify the location of the ‘taxing point’ for the purposes of the petroleum resource rent tax; and
Excise Act 1901
and
Fuel Tax Act 2006
to clarify taxation arrangements for gaseous fuels.