Summary
Amends the:
Income Tax Assessment Act 1936
to: modify the foreign employment income exemption; and extend the operation of the 12-month rule for forestry managed investments to 30 June 2008;
Income Tax Assessment Act 1997
: to allow qualifying high budget television series to apply for the refundable film tax offset; and in relation to debt/equity rules;
Income Tax Assessment Act 1997
and 3 other Acts to clarify the operation of the consolidation regime;
Income Tax (Transitional Provisions) Act 1997
to make transitional arrangements in relation to the thin capitalisation regime; and
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
and
New Business Tax System (Debt and Equity) Act 2001
to make technical amendments in relation to debt/equity rules.