- 14 May 2009
- House of Representatives
- Amends the:
Taxation Administration Act 1953 to set the gross domestic product adjustment for the 2009-10 income year at two per cent;
Income Tax Assessment Act 1997 and
Taxation Administration Act 1953 to enable certain eligible taxpayers to make annual pay as you go instalments;
Petroleum Resource Rent Tax Assessment Act 1987 to: introduce a functional currency rule; introduce a modified ‘look-back’ rule for certain exploration expenditure; introduce internal petroleum provisions; and extend the offshore exploration incentive for designated frontier areas; and
Income Tax Assessment Act 1997 to update the list of deductible gift recipients.