View full documentView full document Previous section | Next section
Senate

Tax Laws Amendment (2010 Measures No. 2) Bill 2010

Supplementary Explanatory Memorandum

Circulated By the Authority of the Treasurer, the Hon Wayne Swan MP
Amendments to be moved on behalf of the Government.

General outline and financial impact

Amendment to Schedule 1 - Improving fairness and integrity in the tax system: distributions to entities connected with a private company

The amendment ensures that the use of certain company title flats or home units is not a payment for the purposes of Division 7A of the Income Tax Assessment Act 1936 .

Date of effect: 1 July 2009. This amendment does not adversely affect taxpayers.

Proposal announced: This amendment has not previously been announced.

Financial impact: Nil.

Compliance cost impact: Nil.


View full documentView full documentBack to top