senate
Taxation Laws Amendment Bill (No. 3) 1993
Income tax (Franking deficit) Amendment bill 1993
Income Tax (Franking Deficit) Amendment Act 1993
Explanatory Memorandum
(Circulated by the authority of the Treasurerthe Hon John Dawkins, M.P.)This Memorandum takes account of amendments made by the House of Representatives to the Bill as introduced.Glossary of commonly used terms
| Term | Definition |
|---|---|
| comparison time | defined in subsection 136(1) of FBTAA |
| economy air fare | defined in subsection 136(1) of FBTAA |
| notional value | defined in subsection 136(1) of FBTAA as "in relation to the provision of property or another benefit to a person, means the amount that the person could reasonably be expected to have been required to pay to obtain the property or other benefit from the provider under an arm's length transaction" |