Document ID: chunk:federal_register_of_legislation:C2010C00604:front:0:p1
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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

Schedule 3—Consolidation: technical amendment of membership rules
Income Tax Assessment Act 1997

Schedule 4—Consolidation: adjustments for errors etc.

Part 1—New Subdivision 705‑E
Income Tax Assessment Act 1997

Part 2—Consequential amendments
Income Tax Assessment Act 1997
Taxation Administration Act 1953

Schedule 5—Consolidation: imputation rules
Income Tax Assessment Act 1936
Income Tax Assessment Act 1997

Schedule 6—Consolidation: life insurance companies

Part 1—Life insurance companies and consolidation
Income Tax Assessment Act 1997

Part 2—Consequential amendments
Income Tax Assessment Act 1997

Part 3—Transitional provisions
Income Tax (Transitional Provisions) Act 1997
Taxation Administration Act 1953

Schedule 7—Consolidation: interactions between Consolidation rules and other rules

Part 1—New Division 715 inserted in the Income Tax Assessment Act 1997

Part 2—New Subdivision 719‑T inserted in the Income Tax Assessment Act 1997

Part 3—Consequential amendment of the Income Tax Assessment Act 1997

Part 4—Dictionary amendments
Income Tax Assessment Act 1997

Schedule 8—Consolidation: various provisions about CFCs, FIFs and FLPs
Income Tax Assessment Act 1997

Schedule 9—Consolidation: foreign dividend accounts

Part 1—Basic amendments
Income Tax Assessment Act 1997

Part 2—Related amendments
Income