New Business Tax System (Consolidation and Other Measures) Act 2003 (Cth)

New Business Tax System (Consolidation and Other Measures) Act 2003

Act No. 16 of 2003 as amended

This compilation was prepared on 18 August 2010 taking into account amendments up to Act No. 75 of 2010

The text of any of those amendments not in force on that date is appended in the Notes section

The operation of amendments that have been incorporated may be affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting and Publishing, Attorney‑General's Department, Canberra

Contents 1 Short title [see Note 1]........................... 2 Commencement 3 Schedule(s)

Schedule 1—Consolidation: amendments of various cost base provisions

Part 1—Adjustments to restrict step 4 reduction in allocable cost amount in Subdivision 705‑B and 705‑D cases Income Tax Assessment Act 1997

Part 2—Consequential amendments relating to simplified imputation system Income Tax Assessment Act 1997 Income Tax (Transitional Provisions) Act 1997

Part 3—Changes to tax cost setting amount in Subdivision 705‑B and 705‑D cases to take account of steps 3 and 5 of allocable cost amount Income Tax Assessment Act 1997

Part 4—Adjustment to allocable cost amount for certain pre‑joining time roll‑overs from foreign residents Income Tax Assessment Act 1997

Part 5—Technical corrections Income Tax Assessment Act 1997

Part 6—Extension of transitional provision relating to step 3 of allocable cost amount on group formation Income Tax (Transitional Provisions) Act 1997

Part 7—Transitional group's allocable cost amount for subsidiary members other than chosen transitional entities Income Tax (Transitional Provisions) Act 1997

Part 8—Inclusion in certain transitional provisions of references to the Income Tax Assessment Act 1997 Income Tax (Transitional Provisions) Act 1997

Schedule 2—Consolidation: beneficial ownership Income Tax Assessment Act 1997