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14 Jul 1111 Income tax relief for water reforms

In the 2011-12 Federal Budget, the Government announced income tax relief for water supply entities and their members, where state and territory government water reforms give rise to capital gains tax and balancing adjustment events. The proposed changes will be backdated to 1 July 2009.

The ATO has now advised the administrative treatment it will apply before and after enactment of the changes.


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