Tax Act changes to LRBA welcome

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By William Fettes, Lawyer and Bryce Figot Director, DBA Lawyers

The Federal Parliament recently passed legislation, which affects the tax treatment of limited recourse borrowing arrangements. The Tax and Superannuation Laws Amendment (2015 Measures No. 2) Act 2015 (Cth) (‘Act’) received Royal Asset on 16 September 2015.

We consider relevant aspects of the amendments made to the Income Tax Assessment Act 1997 (Cth) (‘ITAA 1997’) below, including changes to the final legislation from the exposure draft which was released by Treasury on 19 January 2015.

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