- Originating house
- House of Representatives
- Parliament no
- Amends the:
Income Tax Assessment Act 1936 and
Income Tax Assessment Act 1997 to allow an immediate tax deduction for specific prepaid expenditure invested in a plantation forestry managed agreement; and
Income Tax Assessment Act 1997 to remove an unintended limitation on the Commissioner of Taxation’s discretion under the non-commercial losses rules. Also contains a minor consequential amendment and application and transitional provisions.
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