Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 5) 1988 No. 153 of 1988 - SECT 36

36. (1) In this section, "amended Act" means the Principal Act as amended by
this Act.

(2) The amendment made by paragraph 9 (a) applies to assessments in respect of
income of the year of income in which 12 July 1988 occurred and of all
subsequent years of income.

(3) Subparagraph 78 (1) (a) (xcii) of the amended Act applies to gifts made on
or after 26 September 1988.

(4) The amendments made by sections 14, 15, 24 and 28 apply in relation to
Australian Film Finance Corporation Pty. Limited in relation to the year of
income of that company in which 12 July 1988 occurred and in relation to all
subsequent years of income.

(5) Subsections 124K (1C), (1D) and (1E) and section 124ZADAB of the amended
Act apply to decisions made on or after the commencement of this subsection.

(6) The amendment made by section 25 applies to interest incurred in respect
of an amount owing in connection with the acquisition of an asset if:

   (a)  the interest was incurred after 3 November 1988; and

   (b)  the acquisition occurred after 3 November 1988 (otherwise than under a
        contract entered into on or before that date).

(7) The amendments made by section 34 apply to the ascertainment of
provisional tax (including instalments) payable in respect of income of the
year of income commencing on 1 July 1988 and of all subsequent years of
income.

(8) The amendments made by section 35 apply to amounts withdrawn from film
accounts after the twenty-eighth day after the date of commencement of this
subsection.