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Joint Committee of Public Accounts and Audit
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Inquiry into the Tax Law Improvement Bill (No. 2) 1997

Report 364

The Committee presented to the Speaker of the House of Representatives its report An Advisory Report on the Delayed Provisions of the Tax Law Improvement Bill (No. 2) 1997 on 21 December 1998. Copies of the contents of the report (individual chapters and other sections of the report) are available in PDF format or from the Committee Secretariat.

(To view or print the PDF document, you will require the Acrobat PDF Reader ®, which can be downloaded free of charge from Adobe®.

Recommendations  

Finance Minute/Government Response: to date there has been no Finance Minute/Government response to the Committee's report.

Contents of report: Delayed Provisions of the Tax Law Improvement Bill (No. 2) 1997

Covering documents (PDF Format 24KB)

Chairman's Foreword
Table of contents of the report
Membership of the Committee
Terms of reference of the inquiry
List of abbreviations used in the report

Recommendations (PDF Format 7KB)

Chapter 1: The Context of the Committee's Inquiry (PDF Format 15KB) 

Introduction
Conduct of the review
Structure of the report
Chapter 2: General and Policy Issues (PDF Format 24KB)

General issues
Register of pending corrections
The date of effect of the Subdivison and Divisions
The complexity of the Subdivison and Divisions
Specific policy issues
Divison 123
Discretionary trust rules
Division 138
De minimus threshold exemption
Common ownership time
Trading stock
Chapter 3: Technical and Minor Policy Issues (PDF Format 18KB)

Technical issues
Choices/elections
Active asset
Grouping of provisions
Minor policy issues
Possible change to proposed Division 123
Appendix I: List of Submissions (PDF Format 7KB)

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