Summary
Amends the:
A New Tax System (Goods and Services Tax) Act 1999
in relation to the margin scheme and the sale of real property;
Income Tax Assessment Act 1997
to modify the thin capitalisation regime in relation to the use of accounting standards for identifying and valuing an entity’s assets, liabilities and equity capital;
Income Tax Assessment Act 1936
to extend eligibility for exemption from interest withholding tax to certain bonds;
Fringe Benefits Tax Assessment Act 1986
in relation to income earning assets held jointly with a third party; and
Income Tax Assessment Act 1936
in relation to the eligible investment business rules for managed funds.