Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon. Paul Keating, M.P.)INTRODUCTORY NOTE
The 3 Bills to which this memorandum relates will give effect to the decision by the Government announced in a Ministerial statement on 28 April 1983 to introduce legislation designed to ensure the recovery of income tax sought to be avoided under new generation trust stripping schemes entered into on or after 1 July 1980. The Bills are, apart from minor technical changes, identical with Bills that were introduced on 9 October 1984 but which lapsed when the House was dissolved following the calling of the election.
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