Second Reading Speeches

Tax and Superannuation Laws Amendment (2015 Measures No. 6) Bill 2015

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
44

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Summary

Amends the

Income Tax Assessment Act 1997
to change the capital gains tax treatment of the sale and purchase of businesses involving certain earnout rights (rights to future payments linked to the performance of an asset or assets after sale); and the
Taxation Administration Act 1953
to impose withholding obligations on the purchasers of certain Australian assets. Also makes consequential amendments to five Acts.