Explanatory Memorandum PART B(Circulated by authority of the Treasurer, the Hon. P.J. Keating M.P.)
Part A of this Explanatory Memorandum, which contains an outline and broad explanation of the measures in the Taxation Laws Amendment (Company Distributions) Bill 1987, the Income Tax (Franking Deficit) Bill 1987 and the Income Tax Rates Amendment Bill 1987, was circulated on introduction of the Bills into the House of Representatives.
This Part - Part B - contains a clause by clause explanation of the Bills.