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30 May 11 Income tax relief for improvements to governance and efficiency of water supply entities

On 27 May 2011 the Treasury released a proposals paper, entitled “Income tax relief for improvements to the governance and efficiency of water supply entities”, seeking comments on a measure, announced in the 2011-2012 Budget, to provide income tax relief where State and Territory government reforms to improve the governance and efficiency of shared private schemes for water supply, distribution and drainage would otherwise result in a CGT or a balancing adjustment event.

The closing date for submissions is Friday, 15 July 2011.