The Commonwealth Treasury


Reform of Blackholes and Rights [21/03/2003]

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ATTACHMENT

Considering blackholes and rights on a case-by-case basis

Genuine examples of blackholes will be considered having regard to the following factors:

Submissions should also be made on examples of rights that are considered to be taxed inappropriately under the capital gains tax (CGT) provisions.

Information requirements for blackholes and rights

Interested parties are invited to make a submission for case-by-case consideration of an amendment to the tax treatment of specific blackholes or rights.

Submissions seeking a tax law amendment for blackholes or rights should include the following information:

Developing a legislative solution

The framework for a legislative solution that is being considered for blackholes will be consistent with the approach that is being adopted for the case-by-case ( that is:

Interested parties are also invited to make submissions to the Government on the generic treatment of blackholes, based on the above framework, and rights.

Contact details

Taxpayers or other interested parties wishing to make a submission on blackholes or rights are invited to write to:

The Manager, Business Tax Base Unit
Business Income Division
The Treasury
Langton Crescent
Canberra ACT 2600

Email: btb@treasury.gov.au

 

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