- Date
-
21 Feb 2002
- Chamber
-
House of Representatives
- Status
-
Act
-
Portfolio
-
Treasury
- Summary
-
Amends the:
Income Tax Assessment Act 1936
and Income Tax Assessment Act 1997
to allow an immediate tax deduction for specific prepaid expenditure invested in a plantation forestry managed agreement; and Income Tax Assessment Act 1997
to remove an unintended limitation on the Commissioner of Taxation’s discretion under the non-commercial losses rules. Also contains a minor consequential amendment and application and transitional provisions.