- Date
-
29 May 2003
- Chamber
-
House of Representatives
- Status
-
Act
-
Portfolio
-
Treasury
- Summary
-
Amends the:
Income Tax Assessment Act 1936
and Income Tax Assessment Act 1997
to remove the taxing point at conversion or exchange of certain financial instruments; Income Tax Assessment Act 1997
to make technical corrections to the capital gains tax provisions to ensure that they operate as intended for convertible interests and rights; and Financial Corporations (Transfer of Assets and Liabilities) Act 1993
, Income Tax Assessment Act 1936
, Income Tax Assessment Act 1997
and Taxation Administration Act 1953
to clarify provisions relating to the tax treatment of foreign currency gains and losses. Also contains transitional provisions.