Bills Digest No. 215  1997-98 Income Tax (Untainting Tax) Bill 1998

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This Digest was prepared for debate. It reflects the legislation as introduced and does not canvass subsequent amendments. This Digest does not have any official legal status. Other sources should be consulted to determine the subsequent official status of the Bill.


Passage History
Main Provisions
Contact Officer and Copyright Details

Passage History

Income Tax (Untainting Tax) Bill 1998

Date Introduced: 8 April 1998

House: House of Representatives

Portfolio: Treasury

Commencement: At the same time as Schedule 1 of the Taxation Laws Amendment (Company Law Review) Bill 1998.


To impose formally tax payable to untaint a company's share capital account.


For information on the tainting of share capital accounts refer to the Digest for the Taxation Laws Amendment (Company Law Review) Bill 1998.

This Bill is necessary because of section 55 of the Constitution which provides that laws imposing taxation shall deal only with the imposition of taxation and provisions dealing with any other matter will be of no effect. As a result, when a tax is imposed it is necessary to have separate Bill to impose formally the tax.

Main Provisions

Clause 3 of the Bill will impose formally the tax payable under the Taxation Laws Amendment (Company Law Review) Bill 1998.

Contact Officer and Copyright Details

Chris Field
15 may 1998
Bills Digest Service
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This paper has been prepared for general distribution to Senators and Members of the Australian Parliament. While great care is taken to ensure that the paper is accurate and balanced, the paper is written using information publicly available at the time of production. The views expressed are those of the author and should not be attributed to the Information and Research Services (IRS). Advice on legislation or legal policy issues contained in this paper is provided for use in parliamentary debate and for related parliamentary purposes. This paper is not professional legal opinion. Readers are reminded that the paper is not an official parliamentary or Australian government document.

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ISSN 1328-8091
© Commonwealth of Australia 1998

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Published by the Department of the Parliamentary Library, 1998.

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