Summary
Amends the:
Income Tax Assessment Act 1936
and
Income Tax Assessment Act 1997
in relation to: company loss recoupment rules; and inclusion of film copyright in the general effective life depreciation of the uniform capital allowances provisions;
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
and
Taxation Administration Act 1953
to replace the existing provisions relating to the distribution by Australian entities of foreign sourced income to foreign residents;
Income Tax Assessment Act 1997
to deny deductions for expenditure incurred in relation to illegal activities;
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
,
Income Tax (Transitional Provisions) Act 1997
and
Taxation Laws Amendment Act (No. 3) 2003
to provide tax relief, in certain circumstances, for employees who participate in employee share schemes;
Income Tax Assessment Act 1997
and
Superannuation Guarantee (Administration) Act 1992
to offset a late payment of contributions against an employer’s superannuation guarantee charge;
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
and
Superannuation Guarantee (Administration) Act 1992
to clarify that superannuation guarantee is payable on back payments of wages.