Tax Laws Amendment (2007 Measures No. 5) Act 2007 (Cth)

Tax Laws Amendment (2007 Measures No. 5) Act 2007

Act No. 164 of 2007 as amended

This compilation was prepared on 8 July 2011 taking into account amendments up to Act No. 41 of 2011

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) 4 Amendment of assessments

Schedule 1—Tax preferred entities (asset financing)

Part 1—Main amendments Income Tax Assessment Act 1997

Part 2—Consequential amendments Development Allowance Authority Act 1992 Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Taxation Administration Act 1953

Part 3—Application

Schedule 2—Thin capitalisation: excluded equity interests Income Tax Assessment Act 1997

Schedule 3—Thin capitalisation: groups containing certain ADIs Income Tax Assessment Act 1997

Schedule 4—Extending the CGT small superannuation funds roll‑over on marriage breakdown Income Tax Assessment Act 1997

Schedule 5—Prime Minister's Prizes Income Tax Assessment Act 1997

Schedule 6—Removal of the same business test cap

Part 1—Main amendments Income Tax Assessment Act 1997

Part 2—Consequential amendments Income Tax Assessment Act 1997

Part 3—Application

Schedule 7—Statutory licences

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

Part 2—Consequential and other amendments Income Tax Assessment Act 1997 Income Tax (Transitional Provisions) Act 1997

Part 3—Application

Schedule 8—Australian property trusts and stapled securities

Part 1—Main amendments Income Tax Assessment Act 1936 Income Tax Assessment Act 1997