House of Representatives
Taxation Laws Amendment (Company Distributions) Bill 1987
Taxation Laws Amendment (Company Distributions) Act 1987
Income Tax (Franking Deficit) Bill 1987
Income Tax Rates Amendment Bill 1987
Income Tax Rates Amendment Act 1987
Explanatory Memorandum PART A
(Circulated by authority of the Treasurer, the Hon. P.J. Keating M.P.)FINANCIAL IMPACT
The imputation system and related measures covered by these Bills have an estimated net cost of $50 million in 1987-88 and $300 million per annum thereafter. Unquantifiable but significant savings will result from the proposed action on liquidation distributions and denial of the intercorporate dividend rebate on certain shares.