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Treasury Laws Amendment (A Tax Plan for the COVID‑19 Economic Recovery) Act 2020

No. 92, 2020

Compilation No. 1

Compilation date: 14 October 2020

Includes amendments up to: Act No. 72, 2021

Registered: 22 July 2021

About this compilation

This compilation

This is a compilation of the Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020 that shows the text of the law as amended and in force on 14 October 2020 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents
1 Short title
2 Commencement
3 Schedules
Schedule 1—Accelerating the Personal Income Tax Plan
Part 1—Personal income tax reform: main amendments
Income Tax Rates Act 1986
Part 2—Personal income tax reform: repeals on 1 July 2024
Income Tax Rates Act 1986
Part 3—Low Income tax offset
Income Tax Assessment Act 1936
Income Tax Assessment Act 1997
Taxation Administration Act 1953
Part 4—Low and Middle Income tax offset
Income Tax Assessment Act 1997
Part 5—Amendments to amending legislation
Treasury Laws Amendment (Personal Income Tax Plan) Act 2018
Schedule 2—Temporary loss carry back
Part 1—Main amendments
Income Tax Assessment Act 1997
Part 2—Anti‑avoidance
Income Tax Assessment Act 1936
Part 3—Consequential amendments
Income Tax Assessment Act 1936
Income Tax Assessment Act 1997
Taxation Administration Act 1953
Schedule 3—Increasing small business entity turnover threshold for certain concessions