Tax Laws Amendment (Investment Manager Regime) Bill 2012

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Tax Laws Amendment (Investment Manager Regime) Bill 2012

Introduced into the House of Representatives on 21 June 2012
Portfolio: Treasury

1.2        This bill amends the Income Tax Assessment Act 1997 and the Income Tax (Transitional Provisions) Act 1997.

1.3        Schedule 1 clarifies the treatment of returns, gains, losses and deductions on certain investments of widely held foreign funds.

1.4        Schedule 2 clarifies the taxation treatment of certain returns, gains, losses and deductions for the 2010-11 and earlier income years of widely held foreign funds which have not lodged a tax return and have not had an assessment made of their income tax liability.

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