Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT (No. 3) 1990 No. 58 of 1990 - SECT 29

29. (1) In this section:
      "amended Act" means the Principal Act as amended by this Act.


(2) Subparagraph 78 (1) (a) (ciii) of the amended Act applies to
gifts made on or after 5 February 1990.

(3) Subparagraph 78 (1) (a) (civ) of the amended Act applies to
gifts made on or after 1 April 1990.

(4) Subparagraph 78 (1) (a) (cv) of the amended Act applies to
gifts made on or after 12 March 1990.

(5) The amendments made by section 14 apply to assessments in
respect of income of the year of income commencing on 1 July
1990 and of all subsequent years of income.

(6) Division 16K of Part III of the amended Act applies to
buy-backs of shares on or after 1 November 1989.

(7) The amendments made by sections 17 and 18 do not apply to
on-market purchases of shares made before the earliest day on
which a company that:

   (a)  is incorporated under the Companies Act 1981; and

   (b)  is included in the official list of a stock exchange in
Australia;
may buy a share in itself in the ordinary course of trading on that
stock exchange.

(8) Expressions used in subsection (7) of this section have the
same meaning as in Division 16K of Part III of the amended Act.

(9) The amendment made by section 22 applies to instalments of provisional tax
in respect of income of the year of income
commencing on 1 July 1989 and of all subsequent years of
income.