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Release of draft legislation to improve the consolidation regime.



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NO.033

RELEASE OF DRAFT LEGISLATION TO IMPROVE THE CONSOLIDATION

REGIME

The Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, Chris Bowen MP, today released exposure draft legislation and associated explanatory material to improve the income tax consolidation regime.

The exposure draft legislation implements the majority of the changes announced in the 2008-09 Budget to enhance the operation of the consolidation regime and improve interactions with other parts of the law.

The Government values the input provided by interested parties through consultation and is seeking submissions on the exposure draft legislation and explanatory material.

Copies of the consultation materials are available from the Treasury website (www.treasury.gov.au).

Written comments on the consultation materials should be sent by 25 May 2009 and can be submitted by mail, facsimile or email to:

The Manager Company Tax Unit Business Tax Division The Treasury Langton Crescent PARKES ACT 2601

Fax: 02 6263 4466

Email: consolidation@treasury.gov.au

Media Release of 28/04/2009

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