House of Representatives
Taxation Laws Amendment Bill (No. 3)1992
Explanatory Memorandum
(Circulated by the authority of the Treasurer, the Hon John Dawkins, M.P.)Miscellaneous Amendment
Depreciation rollover relief
12.1. This amendment corrects a clerical error in transitional rules applicable to the rollover relief provisions for certain disposals of depreciable property.
12.2. It replaces the word "transferee" as it appears in transitional sub-subparagraphs 71(4)(b)(ii)(A), 71(5)(b)(ii)(A) and 71(6)(b)(ii)(A) with the word "transferor". [Clause 103]
12.3. The amendment applies from the same time as the original amendments; that is, in respect of disposals that occur after 19 December 1991. [Clause 104]