Senate
Taxation Laws Amendment Bill (No. 5) 1988
Taxation Laws Amendment Act (No. 5) 1988
Sales Tax (Exemptions and Classifications) Amendment Bill (NO.2) 1988
Sales Tax (Exemptions and Classifications) Amendment Act (No. 2) 1988
Income Tax Rates Amendment Bill 1988
Income Tax Rates Amendment Act 1988
Supplementary Explanatory Memorandum
(Circulated by authority of the Minister for Finance, Senator the Hon. Peter Walsh)NOTES ON CLAUSES
Under the first amendment the transitional imputation provisions (contained in Division 6 of Part III of the Bill) are proposed to come into effect on 1 January 1989. This amendment will ensure that in the event that the amending Bill does not receive Royal Assent on or before 1 January 1989, dividends paid by early balancing companies during the period 1 January 1989 to the day the Bill receives Royal Assent will be subject to the same rules as dividends paid after the day on which Royal Assent is granted.
The second amendment will omit Part IV from the Bill.