Tax Laws Amendment (2005 Measures No. 5) Act 2005 (Cth)

Tax Laws Amendment (2005 Measures No. 5) Act 2005

No. 162, 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—Modifications to exemption for foreign earnings Income Tax Assessment Act 1936

Schedule 2—Tax offset for Australian production expenditure on television series Income Tax Assessment Act 1997

Schedule 3—Consolidation

Part 1—Bad debts Division 1—MEC groups Income Tax Assessment Act 1997 Division 2—Deducting debt/equity swap loss Income Tax Assessment Act 1997 Division 3—Consequential amendments Financial Corporations (Transfer of Assets and Liabilities) Act 1993 Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Income Tax (Transitional Provisions) Act 1997

Part 2—Making and revoking certain choices Income Tax (Transitional Provisions) Act 1997

Part 3—Application

Schedule 4—Thin capitalisation Income Tax (Transitional Provisions) Act 1997

Schedule 5—Forestry managed investments Income Tax Assessment Act 1936

Schedule 6—Debt and equity interests

Part 1—Related party at call etc. loans Income Tax Assessment Act 1997

Part 2—Technical amendments taken to have commenced on 1 July 2001 Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 New Business Tax System (Debt and Equity) Act 2001

Part 3—Other technical amendments Income Tax Assessment Act 1997

Tax Laws Amendment (2005 Measures No. 5) Act 2005

No. 162, 2005

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

[Assented to 19 December 2005]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Tax Laws Amendment (2005 Measures No. 5) Act 2005.

2 Commencement

(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.