{"id":"C1969A00100","name":"Income Tax (Drought Bonds) Act 1969","slug":"income-tax-drought-bonds-act-1969","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"100 of 1969","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":5416,"registerId":"commonwealth-C1969A00100-current","compilationNumber":null,"startDate":"2026-03-30","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Income Tax (Drought Bonds) Act 1969","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\nIncome Tax (Drought Bonds)\n\nNo. 100 of 1969\n\nAn Act to impose Income Tax, in relation to certain Redemptions of Drought Bonds, by reference to the Income Tax saved by reason of the Purchase thereof.\n\n[Assented to 27 September 1969]\n\nBE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—\n\nShort title.\n\n1. This Act may be cited as the Income Tax (Drought Bonds) Act 1969.\n\nCommencement.\n\n2. This Act shall come into operation on the day on which it receives the Royal Assent.\n\nImposition of tax.\n\n3. The tax known as income tax, to the extent that that tax is payable in accordance with section 159c of the Income Tax Assessment Act 1936–1969, is imposed by this Act.\n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1634},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The Act maintains its original narrow scope. It remains focused solely on imposing income tax on redemptions of drought bonds as specified in the 1969 legislation, with no expansion into broader taxation matters."},"complexity_factors":["Only 3 sections with minimal text","Single cross-reference to section 159c of Income Tax Assessment Act 1936 (the actual tax calculation rules are contained in that separate Act)","No defined terms, conditions, or exceptions within this Act itself","Machinery provision that relies entirely on external legislation for substantive operation"],"plain_english_summary":"This Act ensures farmers pay income tax when they cash in their **drought bonds**.\n\n**What are drought bonds?**\nThey were a government savings scheme that let primary producers (farmers) set aside money during good years and claim a tax deduction for it. This helped them build financial reserves for droughts or other difficult periods.\n\n**What does this Act do?**\nWhen a farmer originally bought a drought bond, they paid less income tax that year (a tax deferral). When they later redeem (cash in) the bond, this Act **imposes** the income tax payable on that redemption. It works together with section 159c of the Income Tax Assessment Act 1936, which calculates exactly how much tax is due.\n\nIn short: it collects the tax that was deferred when the bond was first purchased."}},"importantCases":[],"_links":{"self":"/api/acts/income-tax-drought-bonds-act-1969","history":"/api/acts/income-tax-drought-bonds-act-1969/history","analysis":"/api/acts/income-tax-drought-bonds-act-1969/analysis","conflicts":"/api/acts/income-tax-drought-bonds-act-1969/conflicts","importantCases":"/api/acts/income-tax-drought-bonds-act-1969/important-cases","documents":"/api/acts/income-tax-drought-bonds-act-1969/documents"}}