Summary
Amends the: Income Tax Assessment Act 1997 to: change the eligibility criteria for accessing film tax offsets; extend the main residence capital gains tax exemption to certain compulsory acquisitions; include terminal medical condition benefits; and include school uniforms as an eligible expense for the education expenses tax offset; Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 to adjust the benchmark interest rate used to determine the cost of capital protection; A New Tax System (Goods and Services Tax) Act 1999 to allow non-profit sub-entities to access the goods and services tax concessions available to their parent entity; and Taxation Administration Act 1953 to enable the Commissioner of Taxation not to apply a payment, credit or running balance account surplus against certain tax debts.