Summary

Amends the: Income Tax Assessment Act 1997 in relation to: amounts misappropriated by an employee or agent; the capital gains tax market value substitution rule for interests in certain companies and trusts; exempting from income tax the Endeavour Executive Award and research fellowships under the Awards program; early completion bonuses for apprentices; the list of deductible gift recipients; deductions for capital expenditure for the establishment of trees in carbon sink forests; tax-free grants under the Tobacco Growers Adjustment Assistance Programme 2006 to certain tobacco growers; and income tax exemptions for rent assistance paid to Austudy recipients and Carer Adjustment Payment recipients; Superannuation Guarantee (Administration) Act 1992 in relation to extending the superannuation guarantee late payment offset; Income Tax Assessment Act 1997 and Income Tax (Transitional Provisions) Act 1997 in relation to tax-free superannuation lump sums paid to persons with a terminal medical condition; Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997 in relation to extensions of the beneficiary tax offset to the Equine Workers Hardship Wage Supplement Payment; and Income Tax Assessment Act 1936 in relation to the farm management deposit scheme.