House of Representatives

Explanatory Memorandum PART A

(Circulated by authority of the Treasurer, the Hon. P.J. Keating, M.P.)

FOREWORD

Part A of this memorandum contains explanations that provide a broad guide to the Bill that has been introduced to give effect to announced changes of a concessional nature to the fringe benefits tax and income tax laws that were announced on 26 August 1986 and 29 October 1986.

Part B of the memorandum, to be issued shortly, will contain a clause by clause explanation of the Bill.