Summary
Amends the:
A New Tax System (Goods and Services Tax) Act 1999
in relation to: supplies in return for rights to develop land; and transfer of tax losses, net capital losses and excess foreign tax credits so that they are not subject to GST, with effect from 1 July 2000;
A New Tax System (Goods and Services Tax Transition) Act 1999
and
Income Tax Assessment Act 1997
to provide a one-off credit to businesses that held rental cars on 1 July 2000;
Income Tax Assessment Act 1936
and
Income Tax Assessment Act 1997
in relation to taxation of general insurance companies and workers’ compensation self-insurers; and
Income Tax Assessment Act 1936
to broaden the eligibility criteria for accessing the intercorporate dividend rebate. Also contains application and transitional provisions.