On 18 September 2007, the Senate passed Tax Laws Amendment (2007 Measures No 4) Bill 2007 with Government amendments. The amendments make changes to Schedule 10 to the Bill, which reforms the taxation arrangements for the Australian screen media industry by introducing a refundable film tax offset for producers of Australian films (the producer offset).
The Bill now returns to the House of Representatives for consideration of the Senate amendments.
For a copy of the amendments, go here
For a copy of the supplementary Explanatory Memorandum, go here