- Date
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01 Apr 2004
- Chamber
-
House of Representatives
- Status
-
Act
-
Portfolio
-
Treasury
- Summary
-
Amends the:
Income Tax Assessment Act 1997
to: reduce the amount of the capital gain or capital loss that will be subject to capital gains tax rules where Australian companies and controlled foreign companies sell shares in a foreign company with an underlying active business; Income Tax Assessment Act 1936
and Income Tax Assessment Act 1997
to extend the current exemptions for foreign branch profits and foreign dividends to all countries from 1 July 2004; and Income Tax Assessment Act 1936
to reduce the scope of tainted services income. Also contains application and transitional provisions.