Supplementary Explanatory Memorandum(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)
General outline and financial impact
Amendments to the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Bill 2002
The amendments to the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Bill 2002 will ensure the demerger measures operate as intended. There are a number of amendments resulting from the consideration of representations made after the introduction of the bill. Other amendments are of a technical and clarifying nature.
Date of effect : 1 July 2002.
Proposal announced : Not previously announced.
Financial impact : The financial impact is unquantifiable.
Compliance cost impact : The amendments will not impose any additional compliance costs.