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Second Reading Speeches

Tax and Superannuation Laws Amendment (2015 Measures No. 2) Bill 2015

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
44

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Summary

Amends the:

Income Tax Assessment Act 1997
and
Income Tax (Transitional Provisions) Act 1997
to: provide tax relief to taxpayers entering into certain arrangements in relation to mining, quarrying and prospecting rights and information; and amend the company loss recoupment rules;
Income Tax Assessment Act 1997
to extend the effective life of in-house software from four to five years; and
Income Tax Assessment Act 1997
,
Income Tax (Transitional Provisions) Act 1997
and
Taxation Administration Act 1953
to provide income tax look-through treatment for instalment warrants, instalment receipts, and other similar arrangements, and for certain limited recourse borrowing arrangements entered into by regulated superannuation funds.

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