Commonwealth Numbered Acts
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TAXATION LAWS AMENDMENT ACT 1991
TABLE OF PROVISIONS
Long Title
1. Short title
2. Commencement
3. Principal Act
4. Reduction of taxable value - "otherwise deductible" rule
5. Reduction of taxable value - "otherwise deductible" rule
6. Interpretation
7. Application of amendments
8. Principal Act
9. Foreign income and foreign tax
10. Exemption of certain pensions
11. Exemption of foreign branch profits of Australian companies
12. Distribution benefits - CFCs
13. Bad debts
14.
15. Certain provisions to be disregarded in calculating attributable income
16.
17. Interpretation
18. Exploration and prospecting expenditure
19. Interpretation
20. Exploration and prospecting expenditure
21. Application of Subdivision
22. Application of Subdivision
23. Interpretation
24. Allowable capital expenditure in respect of cash bidding payments for exploration permits and production licences
25. Exploration and prospecting expenditure
26. Prospecting or mining by contractors, profit-sharing arrangements etc.
27. Double deductions
28. Interpretation
29. Interpretation
30. Qualifying expenditure
31. Interpretation
32. Rebate for medical expenses
33. Passive income
34. Interpretation
36.
37. Receipt of franked dividends
38. Receipt of franked dividends through trusts and partnerships
39.
40.
41. Waiver of franking deficit tax
42.
43. Liability to franking deficit tax
44. Assets to which Part applies
45. Taxpayer
46. Associated persons
47. Resident trust estates and unit trusts
48. Part applies in respect of disposals of assets
49. What constitutes a disposal or acquisition
50. Disposal of taxable Australian assets
51. Capital gains and capital losses
52. Reductions of capital gains where amount otherwise assessable
53. Consideration in respect of disposal
54.
55. Reduction of amounts for purposes of reduced cost base
56. Transfer of assets from company or trust to spouse uponl 25310 breakdown of marriage
57. Transfer of asset to wholly-owned company
58.
59. Transfer of asset between companies in the same group
60. Repeal of section 160ZZOA
61.
62. Transfers of assets between companies under common ownership
63. Shares in, and loans to, transferor - deemed disposal and re-acquisition
64. First asset acquired before transferor and transferee came under common ownership - shares in, and loans to, transferor - reduction in cost base etc.
65.
66. Equity interests in transferee - compensatory increase in cost base etc.
67. Disposal of shares or of interest in trust
68. Keeping of records
69. Effect of incorrect quotation of tax file number
70. Interpretation
71. When income or profits subject to tax in a listed country
72. Exempting receipt of an unlisted country company
73. Certain provisions to be disregarded in calculating attributable income
74. Notional allowable deduction for taxes paid
75.
76. Additional notional exempt income - unlisted or listed country CFC
77. Modified application of Part IIIA - general modifications
78.
79. Repeal of section 420
80. Amounts excluded from active income test
81.
82.
83. Only resident partners, beneficiaries etc. liable to be assessed as a result of attribution
84. Application of amendments - general
85. Application of bad debt amendments
86. Savings - section 159GZZJ of the Principal Act
87. Transitional - cancellation of franking surplus for mutual life assurance companies and SGIOs
88. Transitional - application of Part IIIA of the Principal Act to partnerships
89. Transitional - section 160zzu of the amended Act
90. Amendment of assessments
91. Principal Act
92. Interpretation
93. Limitation on tax payable by certain trustees
94. Interpretation
95. Tax cuts for 1990-91
96. Tax cuts for 1991-92 and subsequent years
97. Application of amendments
98. Transitional - provisional tax for 1990-91
99. Amendment of assessments
100. Principal Act
101.
102. Secrecy
103. Principal Act
104. Transitional - section 108 of the amended Act
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