DraftAs enacted

Contents

Finance (Income Taxes) Bill · As enacted · Part 1 · Amendment of Income Tax Act 1947

23. Amendment of section 39

(1)

In the ITA, in section 39(2)(ha), replace “of an amount to be determined by the formula A − B” with “, but not exceeding an amount to be determined by the formula A − B”.

(2)

The amendment in subsection (1) applies for the year of assessment 2026 and each subsequent year of assessment.

Read on from cl 24

Part 2

Amendment of Multinational Enterprise (Minimum Tax) Act 2024

Read on from Part 2

Part 3

Related Amendments to Goods and Services Tax Act 1993

Read on from Part 3

Part 4

Related Amendments to Property Tax Act 1960

Read on from Part 4

Part 5

Amendment of Economic Expansion Incentives (Relief from Income Tax) Act 1967

Read on from Part 5

Part 6

Saving and Transitional Provisions

Read on from Part 6