Explanatory Memorandum(Circulated by authority of the Treasurer, the Hon. P.J. Keating, M.P.)
The changes to the CGT provisions - which are partly concessional in nature but which principally are anti-avoidance measures - will, when taken as a whole, result in substantial but unquantifiable revenue savings.
The amendments in relation to the double dipping tax avoidance measures (dual resident investment company loss transfers) will result in unquantifiable revenue savings.
The changes to the research and development expenditure arrangements are estimated to save $55 million in 1990-91.
The revenue effect of extending the payment of the carer's service pension to a carer who is not a relative of a veteran is expected to be negligible.
Other amendments proposed by the Bill will have no revenue impact.