House of Representatives

Taxation Laws Amendment Bill (No. 6) 1989

Taxation Laws Amendment Act 1990

Explanatory Memorandum

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

TABLE OF CONTENTS

  PAGE
General Outline 3
Financial Impact 6
Main Features 6
Notes on Clauses 21

INDEX OF SPECIFIC MEASURES
Measures Main Features Notes on Clauses
Amendment of Income Tax Assessment Act 1936
Capital gains tax
   Deemed disposal of assets 6 39,40,59,90
   Reductions of capital gains 7 42,90
   Traditional Securities 7 45
   Consideration for disposal and acquisition 8 46,47,90,91
   Indexation 9 48,90
   Return of Capital 9 50,91
   Capital Loss Transfers 10 51,91
   Rights and Options 10 55,91
   Convertible notes 11 56
   Asset Transfer Roll-overs 11,12 59,61,91
   Strata Title and Association Incorporations 13 68,92
   Principal residence exemption 14 74,91
   Section 160ZZT 16 87,91
Double dipping 17 21,38,51
Research and Development 18 29,39,90,94
Veteran carer's pension 19 26,90
Approved actuary definition 20 28,90,92
Gift provisions 20 37,90
Payment of interest provisions 20 89
Amendment of the Industry Research and Development Act 1986 20 94

* Main notes on clauses commence on this page


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).