Income Tax Assessment Act 1997
The objects of this Subdivision are to improve:
(a) Australia's status as an attractive place for business and investment; and
(b) the integrity of Australia's capital gains tax base. 855-5(2)
This is achieved by:
(a) aligning Australia's tax laws with international practice; and
(b) ensuring interests in an entity remain subject to Australia's capital gains tax laws if the entity's underlying value is principally derived from Australian real property.