Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT (NO. 3) ACT 1991

TABLE OF PROVISIONS

           Long Title

   1.      Short title  
   2.      Commencement  
   3.      Principal Act  
   4.      Duty of employer to make deductions from salary or wages  
   5.      Principal Act  
   6.      Living-away-from-home allowance benefits  
   7.      Taxable value of living-away-from-home allowance fringe benefits  
   8.      Amendment of assessments  
   9.      Principal Act  
   10.     Exemption of pay and allowances of members of Defence Force serving in operational areas  
   11.     Exemption of certain pensions  
   12.     Exemption of certain income derived in respect of approved overseas projects  
   13.     Exemption of income earned in overseas employment  
   14.     Exemption of amounts paid out of attributed income  
   15.     Interpretation  
   16.     Age pension  
   17.      
   18.      
   19.     Carer pension  
   20.     Sole parent pension  
   21.     Repeal of section 24ABJ  
   22.      
   23.      
   24.     Special needs age pension  
   25.      
   26.     Special needs wife pension  
   27.     Age service pension  
   28.     Invalidity service pension  
   29.     Partner service pension  
   30.     Carer service pension  
   31.      
   32.     Divisible deductions  
   33.     Tax-related expenses  
   34.     Deductions for petroleum resource rent tax payments  
   35.     Expenditure on research and development activities  
   36.     Recouped expenditure on research and development activities  
   37.     Gifts, pensions etc.  
   38.      
   39.      
   40.      
   41.     Expenses of general management  
   42.      
   43.     Exploration and prospecting expenditure  
   44.     Deduction of expenditure on rehabilitation-related activities  
   45.     Application of credits  
   46.     Interpretation  
   47.      
   48.     Repeal of section 160APM  
   49.     Subsequent payments of tax before determination of taxable income  
   50.      
   51.     Repeal of sections 160APN and 160APNA  
   52.     Receipt of franked dividends  
   53.     Receipt of franked dividends through trusts and partnerships  
   54.      
   55.     Repeal of sections 160APR, 160APS and 160APT  
   56.      
   57.     Life assurance companies - credits reducing section 160APYB debit  
   58.      
   59.      
   60.     Repeal of sections 160APY, 160APYA and 160APYAA  
   61.      
   62.     Repeal of sections 160AQ and 160AQA  
   63.     Life assurance companies - debits reducing section 160APMA credit  
   64.     Life assurance companies - debits reducing section 160APMB credit  
   65.      
   66.     Determination of estimated debit  
   67.      
   68.     Cost base, indexed cost base and reduced cost base  
   69.     Explanation of terms: investment, investor, investment body  
   70.     Refund to reduce initial payment of tax  
   71.     Interpretation  
   72.     Repeal of section 221B  
   73.      
   74.     Interpretation  
   75.     Certain employees to be subject to provisional tax  
   76.     Uplifted provisional tax amount  
   77.     Provisional tax on estimated income  
   78.      
   79.     Interpretation  
   80.      
   81.      
   82.     Prescribed persons  
   83.     Keeping of records  
   84.     Attribution account entity  
   85.     Attribution credit  
   86.     Exempting profits  
   87.     Further amendments relating to social security and veterans' payments  
   88.     Amendments consequential upon the repeal of section 221B of the Principal Act  
   89.     Application of amendments - general  
   90.     Application of amendments - dividend imputation system  
   91.     Application of amendments - section 221A of the Principal Act  
   92.     Transitional - section 160AFD of the Principal Act  
   93.     Transitional - old system company tax instalments  
   94.     Transitional - franking debits and credits for life assurance companies  
   95.     Transitional - estimated franking debits  
   96.     Transitional - franking debits for foreign tax credits  
   97.     Transitional - cancellation of franking surplus for registered organizations  
   98.     Transitional - section 160APMC of the amended Act  
   99.     Transitional - section 160APMD of the amended Act  
   100.    Transitional - section 160APQA of the amended Act  
   101.    Transitional - section 160APQB of the amended Act  
   102.    Transitional - section 221A of the Principal Act  
   103.    Amendment of assessments  
   104.    Principal Act  
   105.    Interpretation  
   106.    Principal Act  
   107.    Pre-1 July funding credits and debits  
   108.    Interpretation  
   109.    Deemed commutation of annuities and pensions  
   110.    Principal Act  
   111.    Conducting affairs so as to avoid tax file number requirements  
   112.     
   113.    Consequential amendments - new objection, review and appeal procedures  
   114.    Application of amendments - new objection, review and appeal procedures  
   115.    Savings  
   116.    Transitional - new review/appeal procedures apply to post-commencement decisions disallowing objections against pre-commencement assessments or against other pre-commencement decisions  
   117.    Transitional - section 159F of the Income Tax Assessment Act 1936  
   118.    Principal Act  
   119.    Transitional - section 160AFD of the amended Act  
   120.    Application of amendment  
   121.    Principal Act  
   122.    Interpretation  
   123.    Amendments relating to garnishee notices  
   124.    Application of amendments  
   125.    Interpretation  
   126.    7-week deferral of initial payments of tax for 1990-91  
   127.    Deferred initial payments of tax for 1990-91 to be offset by prior payments of franking deficit tax  
   128.    Section 127 to be ignored in calculating certain company tax thresholds  
   129.    Eliminated or reduced initial payments of tax to be treated as fully paid for credit/refund purposes  
   130.    Franking credits and debits - effect of elimination or reduction of initial payment of tax  
   131.    Reduction of liability for franking deficit tax  
   132.    No refunds of amounts of franking deficit tax overpaid because of section 131  
   133.    Reduction of liability for franking deficit tax does not give rise to a franking credit under section 160APS of the Assessment Act  
           SCHEDULE 1
           SCHEDULE 2
           SCHEDULE 3
           SCHEDULE 4