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House of Representatives

Taxation Laws Amendment (Company Distributions) Bill 1987

Taxation Laws Amendment (Company Distributions) Act 1987

Income Tax (Franking Deficit) Bill 1987

Income Tax (Franking Deficit) Act 1987

Income Tax Rates Amendment Bill 1987

Income Tax Rates Amendment Act 1987

Explanatory Memorandum PART A

(Circulated by authority of the Treasurer, the Hon. P.J. Keating M.P.)

FOREWORD

Part A of this memorandum contains explanations that provide a broad guide to the three Bills that have been introduced to give effect to the commencement, from 1 July 1987, of a full imputation system of company taxation and other associated measures that were announced on 10 December 1986.

Part B of the memorandum, to be issued shortly, will contain a clause by clause explanation of the Bills.


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