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TAXATION LAWS AMENDMENT ACT (NO. 3) 1993
TABLE OF PROVISIONS
Long Title
1. Short title
2. Commencement
3. Principal Act
4. Object of Part
5. Interpretation
6. Application of amendments
7. Principal Act
8. Object of Division
9. Interpretation
10. Application of amendments
11. Object of Division
12. Certificate of sources of information
13. Principal Act
14. Object of Division
15. Interpretation
16. Allowable capital expenditure in respect of cash bidding payments for exploration permits and production licences
17. Exploration and prospecting expenditure
18. Application of amendments
19. Object of Division
20. Reduction in deductions that do not exclusively relate to producing assessable income
21. Expenses of general management
22. Apportionment of current year deductions between classes
23. Application of amendments
24. Object of Division
25. Policies of life assurance
26. Application of amendment
27. Object of Division
28. Deductions where payee declaration
29. Deductions where no payee declaration
30. Application of amendments
31. Object of Division
32. Interpretation
33. Application of amendments
34. Object of Division
35. Deduction for gifts, pensions etc.
36. Object of Division
37. Taxable contributions
38. Application of amendment
39. Object of Division
40. Interpretation
41. Ascertainment of surplus or deficit
42. Carry forward of franking surplus
43. Initial payment of tax
44. Subsequent payments of tax before determination of taxable income
45. Final payment of tax
46. Payments of tax made after the final payment of tax
47. Receipt of franked dividends
48. Receipt of franked dividends through trusts and partnerships
49. Payment of excess offset
50. Payment of excess foreign tax credit
51. Lapsing of estimated debit
52. Substituted estimated debit determination
53. Life assurance companies-credit reducing section 160APYBA debit
54. Life assurance companies-credit reducing section 160APYBB debit
55. Life assurance companies-credit reducing section 160APYB debit
56. Life assurance companies-credit reducing section 160APZ debit
57. Life assurance companies-credit reducing subsection 160AQCD(1) debit
58. Life assurance companies-credit reducing subsection 160AQCE(1) debit
59. Insertion of new section
60. Under-franking
61. Excessive reduction in section 160APX debit
62. Refunds in respect of initial payment of tax by a company
63. Refunds of company tax
64. Foreign tax credits-actual payment or application against non-franking credit liabilities
65. Waiver of franking deficit tax
66. Amended company tax assessment reducing tax
67. Payment of franked dividends
68. Estimated debit determination
69. Transfer of asset to insurance funds
70. Dividend streaming arrangements
71. On-market share buy-back arrangements
72. Life assurance companies-debit reducing section 160APMA credit
73. Life assurance companies-debit reducing section 160APMB credit
74. Life assurance companies-debit reducing section 160APMC credit
75. Life assurance companies-debit reducing section 160APMD credit
76. Life assurance companies-debit reducing section 160APQB credit
77. Life assurance companies-debit reducing subsection 160APVC(1) credit
78. Insertion of new section
79. Determination of estimated class A debit
80. Insertion of new section
81. Insertion of new section
82. How to work out the required franking amount
83. What constitutes franking
84. Company to give dividend statement to shareholders
85. Liability to franking deficit tax
86. Entitlement to offset
87. Extra amount to be included in assessable income where franked dividend paid
88. Franking rebate for certain beneficiaries
89. Franking rebate in trustee's assessment
90. Franking rebate for trustees of superannuation funds, ADFs and PSTs
91. Franking rebate for certain partners
92. Franking rebates for certain life assurance companies
93. Adjustment where franking credit arises
94. Adjustment for non-resident beneficiary
95. Adjustment where trustee assessed for non-resident beneficiary
96. Adjustment where trustee assessed for company
97. Adjustment for non-resident partner
98. First return deemed to be an assessment
99. Part-year assessment
100. Default assessment
101. Amendment of assessments
102. Interpretation
103. Penalty for over-franking
104. Penalty for failure to lodge return
105. Penalty tax because of position taken
106. Company to keep records
107. Duties of payers
108. Interpretation
109. Application of amendments
110. Transitional-carry forward of franking surplus from 1993-94
111. Transitional-receipt of class A franked dividends or class B franked dividends etc. by a corporate shareholder before the start of the shareholder's 1994-95 franking year
112. Transitional-estimated debit determinations etc.
113. Transitional-reversing entries in class A franking account etc.
114. Object of Division
115. Insertion of new section
116. Amendment of assessments
117. Principal Act
118. Object of Part
119. Schedule 38
120. Application of amendments
121. Principal Act
122. Object of Part
123. Interpretation
124. Application of amendments
125. Principal Act
126. Object of Part
127. Transfer of expenditure-general
128. Transfer of expenditure-group companies
129. Insertion of new section
130. Annual returns
131. Defined terms
132. Rule-person must have held interests in relation to transferring entity and receiving project
133. Rule-loss company and profit company to have held interests and been group companies
134. Principal Act
135. General definitions
136. Insertion of new section
137. Amending Acts cannot impose penalties etc. earlier than 28 days after Royal Assent
138. Schedule 1
139. Application
140. Object of Part
141. Principal Act
142. Interpretation
143. Insertion of new section
144. Schedule 1
145. Application
146. Transitional
147. Principal Act
148. Object of Part
149. Interpretation: general
150. Insertion of new section
151. Payment of shortfall component
152. Application of amendments
153. Interpretation: general
154. Payment of shortfall component
155. Application of amendments
156. Principal Act
157. Object of Part
158. Interpretation
159. Application of amendments
160. Principal Act
161. Object of Division
162. Interpretation
163. Application of amendments
164. Object of Division
165. Interpretation
166. Application of amendment
167. Interpretation
168. 9-week deferral of initial payments of tax for 1993-94
169. Deferred initial payments of tax for 1993-94 to be offset by prior payments of franking deficit tax
170. IP offset provision to be ignored in calculating certain company tax thresholds
171. Eliminated or reduced initial payments of tax to be treated as fully paid for credit/refund purposes
172. Franking credits and debits-effect of elimination or reduction of initial payment of tax
173. Reduction of liability for franking deficit tax
174. No refunds of amounts of franking deficit tax overpaid because of the FDT reduction provision
175. Reduction of liability for franking deficit tax does not give rise to a franking credit under section 160APQA of the Assessment Act
176. Object of Part
177. Principal Act
178. Exemptions
179. Application of amendment
180. Principal Act
181. Rebate for certain non-profit employers etc.
182. Application of amendment
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