Taxation (savings investment and miscellaneous provisions) Act 2006 and Taxation (annual rates of income tax 2006-07) Act 2006

Amendments to following the Taxation (savings investment and miscellaneous provisions) Act 2006 and Taxation (annual rates of income tax 2006-07) Act 2006.

New tax rules for offshore portfolio investment in shares
Tax rules for portfolio investment entities
New rules for the tax treatment of expenditure on geothermal wells
Australian superannuation fund exemption
New rules for selecting SSCWT rates
Allowing documents to be removed for inspection
Exemption for allowances paid to military and police personnel serving in operational areas
New rules for spreading income on the sale of patents
Organisations approved for charitable donee status
Consolidated groups and foreign losses
Assessments by the Commissioner
GST and financial services
GST on fringe benefits
GST grouping rules
Taxation of business environmental expenditure
Family assistance provisions
Rewrite amendments
Tax depreciation treatment of patents
Fringe benefit tax
Depreciation formula - apportionment of business and private use
Economic rate of depreciation for certain aircraft and motor vehicles
Calculating depreciation rates for assets with high residual values
Election to depreciate plant and equipment at old rates
Temporary exemption for transitional residents
Death and asset transfers
New GST due date for March taxable periods
Limit on refunds and allocations of tax
The imputation rules have been amended to extend the circumstances when tax overpaid before a breach in shareholder continuity can be refunded.
Reverse takeovers
Changes in GST taxable periods
Miscellaneous technical amendments

Public 2006 No 81

New legislation / Act articles

Reference

Public 2006 No 81

Issued

2006