{"id":"C2004A04833","name":"Infrastructure Certificate Cancellation Tax Act 1994","slug":"infrastructure-certificate-cancellation-tax-act-1994","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"160 of 1994","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":436185,"registerId":"C2004A04833-fast-fetch-1775953436905","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Infrastructure Certificate Cancellation Tax Act 1994","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![](image.001.png)\n\n \n\n \n\n \n\n \n\n \n\n \n\nInfrastructure Certificate Cancellation Tax Act 1994\n\nNo. 160, 1994\n\n \n\n \n\n \n\n \n\n \n\nAn Act to impose a tax in respect of the cancellation of infrastructure borrowing certificates\n\n \n\n \n\n \n\nContents\n\n[1 Short title](#_Toc424898508)\n\n[2 Commencement](#_Toc424898509)\n\n[3 Imposition of tax](#_Toc424898510)\n\n[4 Amount of tax](#_Toc424898511)\n\n![](image.001.png)\n\n \n\n \n\nInfrastructure Certificate Cancellation Tax Act 1994\n\nNo. 160, 1994\n\n \n\n \n\n \n\nAn Act to impose a tax in respect of the cancellation of infrastructure borrowing certificates\n\n[Assented to 16 December 1994]\n\nThe Parliament of Australia enacts:\n\n1  Short title\n\n  This Act may be cited as the Infrastructure Certificate Cancellation Tax Act 1994.\n\n2  Commencement\n\n  This Act commences on the day on which it receives the Royal Assent.\n\n3  Imposition of tax\n\n  Tax is imposed on an infrastructure certificate cancellation amount within the meaning of section 159GZZZZH of the Income Tax Assessment Act 1936.\n\n4  Amount of tax\n\n  The amount of the tax imposed by this Act is equal to the infrastructure certificate cancellation amount.\n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2010},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The Act maintains its original narrow purpose of imposing tax on cancelled infrastructure borrowing certificates. It is a precise, targeted taxing statute with no evidence of scope expansion beyond the original policy intent."},"complexity_factors":["Only 4 sections with minimal text","No interpretation section or defined terms within the Act","Single operative provision (section 3) that relies entirely on external legislation for the tax base","Tax calculation is a straightforward 1:1 ratio with no thresholds, rates, or conditions","No exceptions, procedural rules, or administrative mechanisms included"],"plain_english_summary":"**What this law does**\n\nThis Act imposes a tax when an infrastructure borrowing certificate is cancelled. These certificates allowed companies to claim tax deductions for borrowing costs related to major infrastructure projects.\n\n**Who it affects**\nCompanies that cancel infrastructure borrowing certificates.\n\n**How it works**\n- When a certificate is cancelled, a \"cancellation amount\" is calculated under the Income Tax Assessment Act 1936 (the main tax law)\n- This Act imposes a tax exactly equal to that cancellation amount\n- This effectively claws back tax benefits the company previously claimed under the certificate scheme\n\n**Why it matters**\nIt ensures that if a company cancels a certificate (ending their obligations under it), they must pay tax to offset the deductions they have already received, preventing a tax windfall."}},"importantCases":[],"_links":{"self":"/api/acts/infrastructure-certificate-cancellation-tax-act-1994","history":"/api/acts/infrastructure-certificate-cancellation-tax-act-1994/history","analysis":"/api/acts/infrastructure-certificate-cancellation-tax-act-1994/analysis","conflicts":"/api/acts/infrastructure-certificate-cancellation-tax-act-1994/conflicts","importantCases":"/api/acts/infrastructure-certificate-cancellation-tax-act-1994/important-cases","documents":"/api/acts/infrastructure-certificate-cancellation-tax-act-1994/documents"}}