Taxation Laws Amendment Act 1994 (56 of 1994)

Part 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 2   Tax-exempt infrastructure borrowings

14   Object of Division

The objects of this Division are:

(a) to allow tax-exempt infrastructure borrowings made after 17 August 1993 to be used to finance interest on direct infrastructure borrowings falling due during the construction of the relevant infrastructure facility; and
        

(b) to extend the tax exemption to borrowings raised for the construction of infrastructure facilities on certain leases of Crown land granted under commercial contracts.