Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (NO. 2) 1991

TABLE OF PROVISIONS

           Long Title

   1.      Short title  
   2.      Commencement  
   3.      Principal Act  
   4.      Indexation factor for valuation purposes - non-remote housing  
   5.      Repeal of sections 65B and 65C  
   6.       
   7.      Assessment on assumption  
   8.      Remote area holiday transport  
   9.      Christmas Island and Cocos (Keeling) Islands  
   10.     Consequential amendments - repeal of sections 65B and 65C of the Principal Act  
   11.     Consequential amendments - Cocos (Keeling) Islands  
   12.     Application of amendments  
   13.     Amendment of assessments  
   14.     Principal Act  
   15.     Interpretation  
   16.     Exemptions  
   17.     Repeal of section 23AD  
   18.     Exemption of certain income derived in respect of approved overseas projects  
   19.     Exemption of income earned in overseas employment  
   20.      
   21.     Application of Division - 1985-86 to 1990-91  
   22.      
   23.      
   24.     Amounts received on retirement or termination of employment in lieu of long service leave  
   25.     Securities lending arrangements  
   26.     Interpretation  
   27.      
   28.     Distribution benefits - CFCs  
   29.     Bad debts of money-lenders not allowable deductions where attributable to listed country branches  
   30.     Deduction of expenditure on prevention of land degradation  
   31.     Gifts, pensions etc.  
   32.     Rebates for residents of isolated areas  
   33.     Interpretation  
   34.     Payment of interest by taxpayer on distributions from certain non-resident trust estates  
   35.     Persons to whom Division applies  
   36.     Disposal, loss, destruction or termination of use of property  
   37.      
   38.     Disposal, loss, destruction or termination of use of property  
   39.      
   40.      
   41.     Foreign debt  
   42.     Foreign equity  
   43.     Section 128F debenture amounts  
   44.     Adjustment of foreign equity in certain cases involving resident holding companies of financial institutions  
   45.      
   46.     Rebates for dependants  
   47.     Housekeeper  
   48.     Interpretation  
   49.     Rebate in respect of certain pensions, benefits etc.  
   50.      
   51.     Credits in respect of foreign tax  
   52.     Interpretation  
   53.      
   54.     General application of Part in relation to corporate trust estates  
   55.     Penalty for setting out incorrect amounts in dividend statements  
   56.     Deemed assessment  
   57.     Quotation of tax file number in employment declaration  
   58.     Effect of incorrect quotation of tax file number  
   59.     Explanation of terms: investment, investor, investment body  
   60.      
   61.     Investments held jointly  
   62.     Persons receiving certain pensions etc. - employment  
   63.     Persons receiving certain pensions etc. - investments  
   64.     Non-residents  
   65.     When income tax becomes due and payable  
   66.     Interpretation  
   67.     Certain employees to be subject to provisional tax  
   68.     Uplifted provisional tax amount  
   69.     Provisional tax on estimated income  
   70.     Interpretation  
   71.     Duty of payer to pay deducted amount to Commissioner  
   72.     Credits in respect of deducted amounts  
   73.     Interpretation  
   74.     Medicare levy  
   75.     Prescribed persons  
   76.      
   77.     Reduction of section 456 assessability where item subject to foreign accruals tax  
   78.     Assessability in respect of certain dividends paid by a CFC  
   79.      
   80.      
   81.     Offence of failing to keep records  
   82.     Circumstances where records not required to be kept - reasonable excuse etc.  
   83.     Application of amendments  
   84.     Amendment of assessments  
   85.     Principal Act  
   86.     Interpretation  
   87.     Interpretation  
   88.     Application of amendments  
   89.     Principal Act  
   90.     Amount of levy-person who has spouse or dependants  
   91.     Application of amendments  
   92.     Principal Act  
   93.     Interpretation  
           SCHEDULE 1
           SCHEDULE 2