Commonwealth Numbered Acts

NEW BUSINESS TAX SYSTEM (CONSOLIDATION AND OTHER MEASURES) ACT (NO. 1) 2002 NO. 117, 2002

TABLE OF PROVISIONS

           Long Title

   1.      Short title  
   2.      Commencement  
   3.      Schedule(s)  
   4.      Amendment of income tax assessments  
           SCHEDULE 1 - Consolidation: assessable income and deductions spread over several membership or non-membership periods
           SCHEDULE 2 - Consolidation: group continues when shelf company becomes new head company
           SCHEDULE 3 - Consolidation: effect on cost base rules etc. of loss of pre-CGT status of membership interests
           SCHEDULE 4 - Consolidation: new Subdivisions 705-C (where a consolidated group is acquired by another) and 705-D (where multiple entities are linked by membership interests)
           SCHEDULE 5 - Consolidation: allocable cost amount for a joining trust
           SCHEDULE 6 - Consolidation: losses
           SCHEDULE 7 - Consolidation: foreign tax credits and exit history rule
           SCHEDULE 8 - Consolidation: MEC groups
           SCHEDULE 9 - Consolidation: application provision and transitional provisions about trading stock and internally-generated assets
           SCHEDULE 10 - Consolidation: transitional rules for MEC tax cost setting provisions
           SCHEDULE 11 - Consolidation: consequential provisions for research and development
           SCHEDULE 12 - Consolidation: amendments relating to Division 170
           SCHEDULE 13 - Consolidation: thin capitalisation
           SCHEDULE 14 - Consolidation: consequential provisions for removal of grouping
           SCHEDULE 15 - Consolidation: foreign tax credits
           SCHEDULE 16 - Application of sections 46 and 46A of the Income Tax Assessment Act 1936 after 30 June 2002
           SCHEDULE 17 - Changes to the imputation system
           SCHEDULE 18 - Imputation system transitionals