Commonwealth Numbered Acts

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