Native Title Taxation Measures Pass In Final Sitting Week (Australia)

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SUMMARY -

In its final sitting week, the Commonwealth Parliament passed three pieces of legislation which include important measures aimed at clarifying the taxation treatment of payments and benefits provided under native title agreements. Together, the Tax Laws Amendment (2012 Measures No. 6) Act 2013 (Cth) and the Tax Laws Amendment (2013 Measures No. 2) Act 2013 (Cth) (together "Tax Amendment Acts") and also the Charities Act 2013 (Cth) ("Charities Act") answer key questions about how relevant payments and benefits are to be treated for the income and capital gains tax purposes in an area that will continue to develop.

BACKGROUND -

The "right to negotiate" and Indigenous Land Use Agreement provisions of the Native Title Act 1993 (Cth) ("NTA"), as well as certain other State and Territory legislation (for example, the Traditional Owner Settlement Act 2010 (Vic)), establish frameworks for the making of agreements between developers, groups of Aboriginal and Torres Strait Islander people who hold, or claim to hold, native title rights and interests in land and, in certain circumstances, the relevant State, Territory or Commonwealth government.

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