New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 (Cth)

New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002

No. 90, 2002 as amended

Compilation start date: 29 June 2010

Includes amendments up to: Act No 110, 2014

About this compilation

This compilation

This is a compilation of the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 as in force on 29 June 2010. It includes any commenced amendment affecting the legislation to that date.

This compilation was prepared on 23 October 2014.

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of each amended provision.

Uncommenced amendments

The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in the endnotes.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If a provision of the compiled law is affected by a modification that is in force, details are included in the endnotes.

Provisions ceasing to have effect

If a provision of the compiled law has expired or otherwise ceased to have effect in accordance with a provision of the law, details are included in the endnotes.

Contents 1 Short title 2 Commencement 3 Schedule(s) Schedule 1—Consolidation: membership rules Income Tax Assessment Act 1997 Schedule 2—Consolidation: miscellaneous changes to asset cost provisions Income Tax Assessment Act 1997 Schedule 3—Consolidation: new Subdivision 705‑B (tax cost setting amount on group formation) Income Tax Assessment Act 1997 Schedule 4—Consolidation: reset cost base assets held on revenue account Income Tax Assessment Act 1997 Schedule 5—Consolidation: imputation Income Tax Assessment Act 1997 Schedule 6—Consolidation: international tax Income Tax Assessment Act 1997 Schedule 7—Consolidation: application and transitional asset cost provisions Income Tax (Transitional Provisions) Act 1997 Schedule 8—Consolidation: amendment of transitional provisions for losses Income Tax (Transitional Provisions) Act 1997 Schedule 9—Consolidation: transitional provisions for international tax Income Tax (Transitional Provisions) Act 1997 Schedule 10—Consolidation: consequential provisions for international tax Income Tax Assessment Act 1936 Schedule 11—Consolidation: amendment of transitional provision about limiting access to group concessions New Business Tax System (Consolidation) Act (No. 1) 2002 Schedule 12—Consolidation: amendments of Dictionary Income Tax Assessment Act 1997 Schedule 13—Exempting entities and former exempting entities Income Tax Assessment Act 1997 Schedule 14—Loss integrity rules: global method of valuing assets Part 1—Income Tax Assessment Act 1997 Part 2—Income Tax (Transitional Provisions) Act 1997 Part 3—Dictionary amendments Income Tax Assessment Act 1997 Part 4—Application of amendments Schedule 15—Value shifting Part 1—New Divisions inserted in the Income Tax Assessment Act 1997 Part 2—Amendment of the Income Tax (Transitional Provisions) Act 1997 Part 3—Consequential amendment of the Income Tax Assessment Act 1997 Division 1—Amendments Division 2—Saving and transitional provisions Part 4—Consequential amendment of the Income Tax Assessment Act 1936 Part 5—Dictionary amendments Income Tax Assessment Act 1997 Schedule 16—Demerger relief Part 1—CGT relief Income Tax Assessment Act 1997 Part 2—Dividend relief Income Tax Assessment Act 1936 Part 3—Consequential amendments Income Tax Assessment Act 1997 Part 4—Transitional Part 5—Application Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history Endnote 5—Uncommenced amendments [none] Endnote 6—Modifications [none] Endnote 7—Misdescribed amendments [none] Endnote 8—Miscellaneous [none] An Act about income tax to implement a New Business Tax System, and for related purposes