Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 2) 1990No. 57, 1990 - SECT 39

39. Section 124ZAFA of the Principal Act is amended:

   (a)  by omitting subparagraphs (1) (d) (i) and (ii);

   (b)  by omitting paragraphs (1) (e), (f), (g) and (h) and substituting the
        following paragraphs:
  "(e)   where:


   (i)  the moneys were expended under a contract entered into on or before 23
        August 1983; and

   (ii) the moneys were expended by the taxpayer by way of contribution to the
        cost of producing the film; and

   (iii) the moneys were contributed before 1 July 1983; and

   (iv) the moneys were:

                (A)  expended before 1 July 1983 in producing the film; or

                (B)  on or before 1 July 1983, paid into a film account opened
                     in relation to the film;
150%; or

   (f)  where:

   (i)  the moneys were expended under a contract entered into on or before 23
        August 1983; and

   (ii) the moneys were expended by the taxpayer by way of contribution to the
        cost of producing the film; and

   (iii) the moneys were contributed after 30 June 1983; and

   (iv) the moneys were, upon contribution, deposited in a film account opened
        in relation to the film;
150%; or

   (g)  where:

   (i)  the moneys were expended under a contract entered into on or before 23
        August 1983; and

   (ii) the moneys were expended by the taxpayer in producing the film;
150%; or

   (h)  where:

   (i)  the moneys were expended under a contract entered into after 23 August
        1983 and on or before 19 September 1985; and

   (ii) the moneys were expended by the taxpayer by way of contribution to the
        cost of producing the film; and

   (iii) the moneys were, upon contribution, deposited in a film account
        opened in relation to the film;
133%; or

   (j)  where:

   (i)  the moneys were expended under a contract entered into after 23 August
        1983 and on or before 19 September 1985; and

   (ii) the moneys were expended by the taxpayer in producing the film;
133%; or

   (k)  where:

   (i)  the moneys were expended under a contract entered into after 19
        September 1985 and before 25 May 1988; and

   (ii) the moneys were expended by the taxpayer by way of contribution to the
        cost of producing the film; and

   (iii) the moneys were, upon contribution, deposited in a film account
        opened in relation to the film;
120%; or

   (m)  where:

   (i)  the moneys were expended under a contract entered into after 19
        September 1985 and before 25 May 1988; and

   (ii) the moneys were expended by the taxpayer in producing the film;
120%; or

   (n)  where the moneys were expended under a contract entered into on or
        after 25 May 1988 - 100%;".