Proposals Paper - Removing Income Tax Barriers to CATSI Act Corporation Amalgamations

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Abstract:

The 2011-12 Budget included a measure to make amendments to the capital gains tax (CGT) provisions to allow Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) corporations to amalgamate with minimal income tax consequences.

Treasury is releasing a proposals paper that will form the basis of consultation on the policy design of this measure. The proposals paper sets out, in broad terms, how the measure may be implemented.

The purpose of this proposals paper is to provide interested parties with an opportunity to comment on the policy design of the measure.

Making a submission

Interested parties are invited to comment on the design of the amendments as set out in the proposals paper. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Friday, 8 July 2011

Address written submissions to:
The General Manager
Business Tax Division
The Treasury
Langton Crescent
PARKES ACT 2600

Fax: (02) 6263 4471

Email: tax _CATSI@treasury.gov.au

For enquiries, please call Jordan George on (02) 6263 3244

Documents Available:

 Acrobat (PDF)

 Microsoft Word (RTF)

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