A NEW TAX SYSTEM (ULTIMATE BENEFICIARY NON-DISCLOSURE TAX) ACT (NO. 2) 1999 (REPEALED)
SECTION 1
1
SHORT TITLE
This Act may be cited as the A New Tax System (Ultimate Beneficiary Non-disclosure Tax) Act (No. 2) 1999. SECTION 2 2 COMMENCEMENT
This Act commences, or is taken to have commenced, on the day on which the A New Tax System (Closely Held Trusts) Act 1999 commences. SECTION 3 3 IMPOSITION OF ULTIMATE BENEFICIARY NON-DISCLOSURE TAX
Tax payable under paragraph 102UM(2)(a) of the Income Tax Assessment Act 1936 is imposed on the whole or the part of a share of the net income of a trust as mentioned in that paragraph. SECTION 4 4 RATE OF ULTIMATE BENEFICIARY NON-DISCLOSURE TAX
The rate of tax imposed by this Act on the whole or the part of the share of the net income is 46.5%.
This Act may be cited as the A New Tax System (Ultimate Beneficiary Non-disclosure Tax) Act (No. 2) 1999. SECTION 2 2 COMMENCEMENT
This Act commences, or is taken to have commenced, on the day on which the A New Tax System (Closely Held Trusts) Act 1999 commences. SECTION 3 3 IMPOSITION OF ULTIMATE BENEFICIARY NON-DISCLOSURE TAX
Tax payable under paragraph 102UM(2)(a) of the Income Tax Assessment Act 1936 is imposed on the whole or the part of a share of the net income of a trust as mentioned in that paragraph. SECTION 4 4 RATE OF ULTIMATE BENEFICIARY NON-DISCLOSURE TAX
The rate of tax imposed by this Act on the whole or the part of the share of the net income is 46.5%.
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