1998-99
   The Parliament of the
   Commonwealth of Australia
   HOUSE OF REPRESENTATIVES
   Presented and read a first time
   Income Tax Rates Amendment (RSAs Provided by Registered Organizations)
   Bill 1999
   No. , 1999
   (Treasury)
   A Bill for an Act to amend the Income Tax Rates Act 1986

   ISBN: 0642 390827

   Contents

   A Bill for an Act to amend the Income Tax Rates Act 1986

   The Parliament of Australia enacts:

      1 Short title

   This Act may be cited as the Income Tax Rates Amendment (RSAs Provided
   by Registered Organizations) Act 1999.

      2 Commencement

   This Act commences on the date that is the transfer date for the
   purposes of the Financial Sector Reform (Amendments and Transitional
   Provisions) Act (No. 1) 1999.

      3 Schedule(s)

   Each Act that is specified in a Schedule to this Act is amended or
   repealed as set out in the applicable items in the Schedule concerned,
   and any other item in a Schedule to this Act has effect according to
   its terms.

        Schedule 1--Amendment of the Income Tax Rates Act 1986

   1 Subsection 3(1)

   Insert:

   RSA category A component has the same meaning as in Division 8A of Part
   III of the Assessment Act.

   2 Subsection 3(1)

   Insert:

   RSA category B component has the same meaning as in Division 8A of Part
   III of the Assessment Act.

   3 Subsection 3(1)

   Insert:

   RSA combined component has the same meaning as in Division 8A of Part
   III of the Assessment Act.

   4 At the end of paragraph 23(4)(a)

   Add "and".

   5 After paragraph 23(4)(b)

   Insert:

   (ba) in respect of the RSA category A component of the RSA combined
   component--15%; and

   (bb) in respect of the RSA category B component of the RSA combined
   component--36%; and

   6 Subsection 23(4BA)

   Omit ", other than a life assurance company", substitute "(other than a
   life assurance company or a registered organization)".