Summary
Amends the: Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997 in relation to tax exemptions for: certain temporary residents; and the Commonwealth Games Federation; Income Tax Assessment Act 1997 to exempt from income tax compensation received for loss of defence remuneration; Income Tax Assessment Act 1936, Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 to exclude repayment of certain amounts from assessable income; and Income Tax Assessment Act 1936 to increase the level of expenses above which the medical expenses tax offset applies. Also contains application and transitional provisions.