In a media release issued on 28 April 2009, the Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, Chris Bowen, announced the release of exposure draft legislation and associated explanatory material to improve the income tax consolidation regime. The exposure draft legislation implements the majority of the changes announced in the 2008-09 Budget to enhance the operation of the consolidation regime and improve interactions with other parts of the law. Further information about these improvements is in the Treasurer’s Press Release No 2008/53 of 13 May 2008 (issued jointly with the Assistant Treasurer and Minister for Competition Policy and Consumer Affairs).
Written comments on the consultation materials should be submitted by 25 May 2009.
For a copy of the Minister's media release, No 2009/033, 28 April 2009, go here
For a copy of the draft legislation and associated explanatory material, go here
For a copy of the Treasurer's media release, No 2008/53, 13 May 2008, go here