Summary
Amends the: A New Tax System (Goods and Services Tax) Act 1999 in relation to the margin scheme and the sale of real property; Income Tax Assessment Act 1997 to modify the thin capitalisation regime in relation to the use of accounting standards for identifying and valuing an entity’s assets, liabilities and equity capital; Income Tax Assessment Act 1936 to extend eligibility for exemption from interest withholding tax to certain bonds; Fringe Benefits Tax Assessment Act 1986 in relation to income earning assets held jointly with a third party; and Income Tax Assessment Act 1936 in relation to the eligible investment business rules for managed funds.