Summary
Amends the:
Income Tax Assessment Act 1997
and
Income Tax (Transitional Provisions) Act 1997
to: provide tax relief to taxpayers entering into certain arrangements in relation to mining, quarrying and prospecting rights and information; and amend the company loss recoupment rules;
Income Tax Assessment Act 1997
to extend the effective life of in-house software from four to five years; and
Income Tax Assessment Act 1997
,
Income Tax (Transitional Provisions) Act 1997
and
Taxation Administration Act 1953
to provide income tax look-through treatment for instalment warrants, instalment receipts, and other similar arrangements, and for certain limited recourse borrowing arrangements entered into by regulated superannuation funds.