House of Representatives

New Business Tax System (Integrity and Other Measures) Bill 1999

New Business Tax System (Former Subsidiary Tax Imposition) Bill 1999

New Business Tax System (Former Subsidiary Tax Imposition) Act 1999

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)


The transitional period is the first 4 income years of the change.


For late balancing taxpayers whose substituted accounting period ends on or after 21September 1999, the income year will be the 1998-1999 income year.


Clock Ltd has an income year the same as the financial year.


View full documentView full documentBack to top