Tax Laws Amendment (2005 Measures No. 2) Act 2005 (Cth)

Tax Laws Amendment (2005 Measures No. 2) Act 2005

No. 78, 2005

An Act to amend the law relating to taxation, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedule(s)

Schedule 1—Simplified imputation system Income Tax Assessment Act 1997

Schedule 2—CGT roll‑over for transfer of assets to superannuation funds with licensed trustees Income Tax Assessment Act 1997

Schedule 3—Deducting expenditure on telecommunications rights

Part 1—IRUs Income Tax Assessment Act 1997 Income Tax (Transitional Provisions) Act 1997

Part 2—Rights of access to telecommunications sites Income Tax Assessment Act 1997

Schedule 4—Changing from annual to quarterly payment of PAYG instalments Taxation Administration Act 1953

Schedule 5—Deductible gift recipients Income Tax Assessment Act 1997

Schedule 6—Goods and services tax and real property A New Tax System (Goods and Services Tax) Act 1999 Taxation Administration Act 1953

Schedule 7—Superannuation and family law Income Tax Assessment Act 1936

Schedule 8—Worker entitlement funds Fringe Benefits Tax Assessment Act 1986

Tax Laws Amendment (2005 Measures No. 2) Act 2005

No. 78, 2005

An Act to amend the law relating to taxation, and for related purposes

[Assented to 29 June 2005]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Tax Laws Amendment (2005 Measures No. 2) Act 2005.

2 Commencement

This Act commences on the day on which it receives the Royal Assent.

3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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—Simplified imputation system

Income Tax Assessment Act 1997

1 Subsection 205‑70(2) (steps 1 and 2 of the method statement) After "Then", insert ", subject to subsection (5) (which relates to a *private company's first year of tax liability),".