New Business Tax System (Taxation of Financial Arrangements) Act (No. 1) 2003 (Cth)

New Business Tax System (Taxation of Financial Arrangements) Act (No. 1) 2003

Act No. 133 of 2003 as amended

This compilation was prepared on 19 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 [see Note 1] 3 Schedule(s)

Schedule 1—Removal of taxing point on conversion or exchange of traditional securities Income Tax Assessment Act 1936 Income Tax Assessment Act 1997

Schedule 2—Convertible interests Income Tax Assessment Act 1997

Schedule 3—Rights Income Tax Assessment Act 1997

Schedule 4—Foreign currency

Part 1—Amendments Financial Corporations (Transfer of Assets and Liabilities) Act 1993 Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Taxation Administration Act 1953

Part 2—Transitional provisions

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

1 Short title [see Note 1]

This Act may be cited as the New Business Tax System (Taxation of Financial Arrangements) Act (No. 1) 2003.

2 Commencement [see Note 1]

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Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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—Removal of taxing point on conversion or exchange of traditional securities

Income Tax Assessment Act 1936

1 Subsection 26BB(1) Insert: