Federal Register of Legislation
New Business Tax System (Integrity Measures) Act 2000
No. 90, 2000
New Business Tax System (Integrity Measures) Act 2000
No. 90, 2000
An Act to amend the law about taxation to implement the New Business Tax System, and for related purposes
Contents 1 Short title................................... 2 Commencement............................... 3 Schedule(s)..................................
Schedule 1—Losses from non‑commercial business activities Income Tax Assessment Act 1997
Schedule 2—Deducting prepayments
Part 1—Expenditure on and after 11 November 1999 Income Tax Assessment Act 1936
Part 2—2002 and later expenditure Income Tax Assessment Act 1936
Part 3—Application provisions
New Business Tax System (Integrity Measures) Act 2000
No. 90, 2000
An Act to amend the law about taxation to implement the New Business Tax System, and for related purposes
[Assented to 30 June 2000]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the New Business Tax System (Integrity Measures) Act 2000.
2 Commencement
This Act commences on the day on which it receives the Royal Assent.
3 Schedule(s)
Subject to section 2, each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Losses from non‑commercial business activities
Income Tax Assessment Act 1997
1 At the end of subsection 8‑1(1) Add:
Note: Division 35 prevents losses from non‑commercial business activities that may contribute to a tax loss being offset against other assessable income.
2 Section 12‑5 (after the table item headed "non‑cash transactions") Insert: non‑commercial business activities deferral of non‑commercial losses........... Division 35
3 Section 34‑65 (link note) Repeal the link note, substitute:
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate