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
Explanatory Memorandum
(Circulated by authority of the Minister representing the Treasurer, Senator the Hon. Peter Walsh)This memorandum takes account of amendments made by the House of Representatives to the Taxation Laws Amendment Bill (No.5) 1988 as introduced.
TABLE OF CONTENTS
| Page | |
|---|---|
| General outline | 1 |
| Financial impact | 4 |
| Main features | 5 |
| Notes on clauses | 18 |
| Measure | Main features | Notes on clauses* | Page | Page | |
|---|---|---|---|---|---|
| Gold mining | 5 | 43 | |||
| Lump sum payments in arrears | 6 | 66 | |||
| Employee shares | 8 | 22 | |||
| Imputation | 9 | 95 | |||
| Research and development | 11 | 31 | |||
| Films | 12 | 37 | |||
| Debt creation: non-residents | 13 | 42 | |||
| Gifts | 13 | 36 | |||
| Defence Homes cash grants | 13 | 81 | |||
| Fringe benefits tax | 14 | 18 | |||
| Sales tax: refunds | 15 | 101 | |||
| Sales tax: exemptions and classifications | 15 | 102 | |||
| Income tax rates: companies etc. | 17 | 106 | |||
| * Main notes on clauses commence on this page. | |||||