{"id":"C2004A03811","name":"Telecommunications and Postal Services (Transitional Provisions and Consequential Amendments) Act 1989","slug":"telecommunications-and-postal-services-transitional-provisions-and-consequential-amendments-act-1989","collection":"act","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"63 of 1989","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":36790,"registerId":"commonwealth-C2004A03811-current","compilationNumber":null,"startDate":"2026-04-01","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part 1","sectionType":"part","heading":"Preliminary","content":"## Part 1—Preliminary","sortOrder":0},{"sectionNumber":"1","sectionType":"section","heading":"Short title","content":"#### 1 Short title\n\n  This Act may be cited as the Telecommunications and Postal Services (Transitional Provisions and Consequential Amendments) Act 1989.","sortOrder":1},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 Commencement\n\n  (1) Subject to this section, this Act commences on a day or days to be fixed by Proclamation.\n  (2) Sections 1 and 2 commence on the day on which this Act receives the Royal Assent.\n  (4) If a provision of this Act (other than section 1 or 2) does not commence under subsection (1) within the period of 6 months beginning on the day on which this Act receives the Royal Assent, it commences on the first day after the end of that period.","sortOrder":2},{"sectionNumber":"Part 9","sectionType":"part","heading":"Transitional provisions, amendments and repeals relating to Australia Post","content":"An Act to enact certain transitional provisions, make certain amendments, and effect certain repeals, in consequence of the enactment of the Telecommunications Act 1989, the Australian Postal Corporation Act 1989 and the Australian Telecommunications Corporation Act 1989, and for other purposes\n\n## Part 1—Preliminary\n\n#### 1 Short title\n\n  This Act may be cited as the Telecommunications and Postal Services (Transitional Provisions and Consequential Amendments) Act 1989.\n\n#### 2 Commencement\n\n  (1) Subject to this section, this Act commences on a day or days to be fixed by Proclamation.\n  (2) Sections 1 and 2 commence on the day on which this Act receives the Royal Assent.\n  (4) If a provision of this Act (other than section 1 or 2) does not commence under subsection (1) within the period of 6 months beginning on the day on which this Act receives the Royal Assent, it commences on the first day after the end of that period.\n\n## Part 9—Transitional provisions, amendments and repeals relating to Australia Post\n\n### Division 1—Interpretation\n\n#### 60 Interpretation—definitions\n\n  In this Part:\n\n> commencing day means the day on which the new Act commences.\n\n> new Act means the Australian Postal Corporation Act 1989.\n\n> previous Act means the Postal Services Act 1975.\n\n#### 61 Interpretation—expressions used in new Act\n\n  Unless the contrary intention appears, expressions used in this Part, and in the new Act, have the same respective meanings as in that Act.\n\n### Division 2—Taxation matters\n\n#### 62 Stamp duty not payable in relation to certain property etc.\n\n  (1) Stamp duty or similar tax is not payable by Australia Post under a law of a State or Territory in relation to property:\n    (a) acquired by Australia Post before the commencing day; or\n    (b) constructed by Australia Post before the commencing day.\n  (2) Without limiting subsection (1), stamp duty or similar tax is not payable under a law of a State or Territory on the registration under a law of the State or Territory of a motor vehicle acquired by Australia Post before the commencing day.\n\n#### 63 Stamp duty not payable in relation to certain transactions\n\n  Stamp duty or similar tax is not payable by Australia Post under a law of a State or Territory in relation to a transaction entered into by it before the commencing day.\n\n#### 64 Stamp duty not payable in relation to certain securities etc.\n\n  Stamp duty or any similar tax is not payable under a law of a State or Territory in relation to:\n    (a) a security issued by Australia Post before the commencing day;\n    (b) the issue, redemption, transfer, sale or purchase of such a security (other than a transaction entered into without consideration or for an inadequate consideration); or\n    (b) any document executed by or on behalf of Australia Post, or any transaction, in relation to money borrowed by Australia Post before the commencing day.\n\n#### 65 Commencement of Australia Post’s liability to pay income tax\n\n  Income derived by Australia Post in a year of income commencing before 1 July 1990 is exempt income for the purposes of the Income Tax Assessment Act 1936.\n\n#### 66 Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Income Tax Assessment Act 1936 the value to be taken into account at the beginning of the year of income commencing on 1 July 1990 in relation to Australia Post’s trading stock on hand at that time, Australia Post may, in accordance with subsection (2), exercise any option, and give any notice, in relation to the value of its trading stock on hand at the end of the preceding year of income.\n  (2) The option or notice:\n    (a) shall be exercised or given in writing to the Commissioner of Taxation; and\n    (b) shall be lodged with the Commissioner of Taxation on or before the day of lodgment of Australia Post’s return of income for the year of income commencing on 1 July 1990, or before such later day as the Commissioner of Taxation allows.\n  (3) If Australia Post does not exercise an option under subsection (1) in relation to particular trading stock, the value to be taken into account in accordance with the subsection in relation to that trading stock shall be the cost price.\n  (4) If Australia Post, under Subdivision B of Division 2 of Part III of the Income Tax Assessment Act 1936, adopts cost price as the basis of valuation in relation to any of its trading stock on hand at the end of the year of income commencing on 1 July 1990 that was on hand at the end of the preceding year of income, the cost price of that trading stock shall be taken to be equal to the value at which the trading stock was taken into account in accordance with subsection (1).\n\n#### 67 Accelerated depreciation not available for income tax purposes\n\n  Section 57AL of the Income Tax Assessment Act 1936, as in force immediately after the commencement of section 38 of the Taxation Laws Amendment Act (No. 4) 1988, does not apply in relation to any unit of property of Australia Post.\n\n#### 68 Transitional provisions for capital gains tax\n\n  (1) Where:\n    (a) Australia Post owns an asset at the end of 30 June 1990 (in this subsection called the “changeover time”); and\n    (b) the market value of the asset at the changeover time is greater than the amount that would be the indexed cost base to Australia Post in relation to the asset if Australia Post disposed of the asset at that time;\n  the following provisions have effect for the purpose of ascertaining under Part IIIA of the Income Tax Assessment Act 1936 whether a capital gain accrues in the event of a subsequent disposal of the asset by it:\n    (c) Australia Post shall be taken to have disposed of the asset at the changeover time for a consideration equal to the amount of that indexed cost base;\n    (d) Australia Post shall be taken to have immediately re-acquired the asset for a consideration equal to the market value of the asset at the changeover time;\n    (e) the reference in subsection 160Z(3) of the Income Tax Assessment Act 1936 to the day on which the asset was acquired by the taxpayer shall be taken to be a reference to the day on which the asset was actually acquired by Australia Post.\n  (2) If the asset is disposed of within 12 months of its actual acquisition by Australia Post, subsection (1) has effect as if the references in that subsection to the indexed cost base to Australia Post in relation to the asset were references to the cost base to Australia Post in relation to the asset.\n  (3) Where:\n    (a) Australia Post owns an asset at the end of 30 June 1990 (in this subsection called the “changeover time”); and\n    (b) the market value of the asset at the changeover time is less than the amount that would be the reduced cost base to Australia Post in relation to the asset if Australia Post disposed of the asset at that time;\n  the following provisions have effect for the purpose of ascertaining under Part IIIA of the Income Tax Assessment Act 1936 whether Australia Post incurred a capital loss in the event of a subsequent disposal of the asset by it:\n    (c) Australia Post shall be taken to have disposed of the asset at the changeover time for a consideration equal to the amount of that reduced cost base;\n    (d) Australia Post shall be taken to have immediately re-acquired the asset for a consideration equal to the market value of the asset at the changeover time.\n  (4) Expressions used in this section, and in Part IIIA of the Income Tax Assessment Act 1936, have the same respective meanings as in that Part.\n\n### Division 3—Non-taxation matters\n\n#### 69 Certain existing liabilities to the Commonwealth\n\n  Subject to any regulations made under the new Act, section 74 of the previous Act, as in force immediately before the commencement of this Part, continues to have effect as if the previous Act had not been repealed.\n\n#### 72 Employment of staff members to continue\n\n  Each person who, immediately before the commencing day, was an employee of Australia Post continues to be employed by it as if the person had been engaged under section 89 of the new Act.\n\n#### 73 Unclaimed amounts\n\n  (1) Amounts paid into the Unclaimed Moneys Fund kept by Australia Post under section 107 of the previous Act shall be dealt with as if they had been paid into the Unclaimed Money Fund kept under section 98 of the new Act.\n  (2) Amounts paid into the Consolidated Revenue Fund under section 107 of the previous Act shall be dealt with as if that Act had not been repealed.\n\n## Part 10—Transitional provisions, amendments and repeals relating to Telecom\n\n### Division 1—Interpretation\n\n#### 76 Interpretation—definitions\n\n  In this Part:\n\n> commencing day means the day on which the new Act commences.\n\n> new Act means the Australian Telecommunications Corporation Act 1989.\n\n> previous Act means the Telecommunications Act 1975.\n\n#### 77 Interpretation—expressions used in new Act\n\n  Unless the contrary intention appears, expressions used in this Part, and in the new Act, have the same respective meanings as in that Act.\n\n### Division 3—Non-taxation matters\n\n#### 85 Certain existing liabilities to the Commonwealth\n\n  Subject to any regulations made under the new Act, section 71 of the old Act, as in force immediately before the commencement of this Part, continues to have effect as if the previous Act had not been repealed.\n\n#### 88 Employment of staff members to continue\n\n  Each person who, immediately before the commencing day, was an employee of Telecom continues to be employed by it as if the person had been engaged under section 85 of the new Act.","sortOrder":3},{"sectionNumber":"Division 1","sectionType":"division","heading":"Interpretation","content":"An Act to enact certain transitional provisions, make certain amendments, and effect certain repeals, in consequence of the enactment of the Telecommunications Act 1989, the Australian Postal Corporation Act 1989 and the Australian Telecommunications Corporation Act 1989, and for other purposes\n\n## Part 1—Preliminary\n\n#### 1 Short title\n\n  This Act may be cited as the Telecommunications and Postal Services (Transitional Provisions and Consequential Amendments) Act 1989.\n\n#### 2 Commencement\n\n  (1) Subject to this section, this Act commences on a day or days to be fixed by Proclamation.\n  (2) Sections 1 and 2 commence on the day on which this Act receives the Royal Assent.\n  (4) If a provision of this Act (other than section 1 or 2) does not commence under subsection (1) within the period of 6 months beginning on the day on which this Act receives the Royal Assent, it commences on the first day after the end of that period.\n\n## Part 9—Transitional provisions, amendments and repeals relating to Australia Post\n\n### Division 1—Interpretation\n\n#### 60 Interpretation—definitions\n\n  In this Part:\n\n> commencing day means the day on which the new Act commences.\n\n> new Act means the Australian Postal Corporation Act 1989.\n\n> previous Act means the Postal Services Act 1975.\n\n#### 61 Interpretation—expressions used in new Act\n\n  Unless the contrary intention appears, expressions used in this Part, and in the new Act, have the same respective meanings as in that Act.\n\n### Division 2—Taxation matters\n\n#### 62 Stamp duty not payable in relation to certain property etc.\n\n  (1) Stamp duty or similar tax is not payable by Australia Post under a law of a State or Territory in relation to property:\n    (a) acquired by Australia Post before the commencing day; or\n    (b) constructed by Australia Post before the commencing day.\n  (2) Without limiting subsection (1), stamp duty or similar tax is not payable under a law of a State or Territory on the registration under a law of the State or Territory of a motor vehicle acquired by Australia Post before the commencing day.\n\n#### 63 Stamp duty not payable in relation to certain transactions\n\n  Stamp duty or similar tax is not payable by Australia Post under a law of a State or Territory in relation to a transaction entered into by it before the commencing day.\n\n#### 64 Stamp duty not payable in relation to certain securities etc.\n\n  Stamp duty or any similar tax is not payable under a law of a State or Territory in relation to:\n    (a) a security issued by Australia Post before the commencing day;\n    (b) the issue, redemption, transfer, sale or purchase of such a security (other than a transaction entered into without consideration or for an inadequate consideration); or\n    (b) any document executed by or on behalf of Australia Post, or any transaction, in relation to money borrowed by Australia Post before the commencing day.\n\n#### 65 Commencement of Australia Post’s liability to pay income tax\n\n  Income derived by Australia Post in a year of income commencing before 1 July 1990 is exempt income for the purposes of the Income Tax Assessment Act 1936.\n\n#### 66 Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Income Tax Assessment Act 1936 the value to be taken into account at the beginning of the year of income commencing on 1 July 1990 in relation to Australia Post’s trading stock on hand at that time, Australia Post may, in accordance with subsection (2), exercise any option, and give any notice, in relation to the value of its trading stock on hand at the end of the preceding year of income.\n  (2) The option or notice:\n    (a) shall be exercised or given in writing to the Commissioner of Taxation; and\n    (b) shall be lodged with the Commissioner of Taxation on or before the day of lodgment of Australia Post’s return of income for the year of income commencing on 1 July 1990, or before such later day as the Commissioner of Taxation allows.\n  (3) If Australia Post does not exercise an option under subsection (1) in relation to particular trading stock, the value to be taken into account in accordance with the subsection in relation to that trading stock shall be the cost price.\n  (4) If Australia Post, under Subdivision B of Division 2 of Part III of the Income Tax Assessment Act 1936, adopts cost price as the basis of valuation in relation to any of its trading stock on hand at the end of the year of income commencing on 1 July 1990 that was on hand at the end of the preceding year of income, the cost price of that trading stock shall be taken to be equal to the value at which the trading stock was taken into account in accordance with subsection (1).\n\n#### 67 Accelerated depreciation not available for income tax purposes\n\n  Section 57AL of the Income Tax Assessment Act 1936, as in force immediately after the commencement of section 38 of the Taxation Laws Amendment Act (No. 4) 1988, does not apply in relation to any unit of property of Australia Post.\n\n#### 68 Transitional provisions for capital gains tax\n\n  (1) Where:\n    (a) Australia Post owns an asset at the end of 30 June 1990 (in this subsection called the “changeover time”); and\n    (b) the market value of the asset at the changeover time is greater than the amount that would be the indexed cost base to Australia Post in relation to the asset if Australia Post disposed of the asset at that time;\n  the following provisions have effect for the purpose of ascertaining under Part IIIA of the Income Tax Assessment Act 1936 whether a capital gain accrues in the event of a subsequent disposal of the asset by it:\n    (c) Australia Post shall be taken to have disposed of the asset at the changeover time for a consideration equal to the amount of that indexed cost base;\n    (d) Australia Post shall be taken to have immediately re-acquired the asset for a consideration equal to the market value of the asset at the changeover time;\n    (e) the reference in subsection 160Z(3) of the Income Tax Assessment Act 1936 to the day on which the asset was acquired by the taxpayer shall be taken to be a reference to the day on which the asset was actually acquired by Australia Post.\n  (2) If the asset is disposed of within 12 months of its actual acquisition by Australia Post, subsection (1) has effect as if the references in that subsection to the indexed cost base to Australia Post in relation to the asset were references to the cost base to Australia Post in relation to the asset.\n  (3) Where:\n    (a) Australia Post owns an asset at the end of 30 June 1990 (in this subsection called the “changeover time”); and\n    (b) the market value of the asset at the changeover time is less than the amount that would be the reduced cost base to Australia Post in relation to the asset if Australia Post disposed of the asset at that time;\n  the following provisions have effect for the purpose of ascertaining under Part IIIA of the Income Tax Assessment Act 1936 whether Australia Post incurred a capital loss in the event of a subsequent disposal of the asset by it:\n    (c) Australia Post shall be taken to have disposed of the asset at the changeover time for a consideration equal to the amount of that reduced cost base;\n    (d) Australia Post shall be taken to have immediately re-acquired the asset for a consideration equal to the market value of the asset at the changeover time.\n  (4) Expressions used in this section, and in Part IIIA of the Income Tax Assessment Act 1936, have the same respective meanings as in that Part.\n\n### Division 3—Non-taxation matters\n\n#### 69 Certain existing liabilities to the Commonwealth\n\n  Subject to any regulations made under the new Act, section 74 of the previous Act, as in force immediately before the commencement of this Part, continues to have effect as if the previous Act had not been repealed.\n\n#### 72 Employment of staff members to continue\n\n  Each person who, immediately before the commencing day, was an employee of Australia Post continues to be employed by it as if the person had been engaged under section 89 of the new Act.\n\n#### 73 Unclaimed amounts\n\n  (1) Amounts paid into the Unclaimed Moneys Fund kept by Australia Post under section 107 of the previous Act shall be dealt with as if they had been paid into the Unclaimed Money Fund kept under section 98 of the new Act.\n  (2) Amounts paid into the Consolidated Revenue Fund under section 107 of the previous Act shall be dealt with as if that Act had not been repealed.\n\n## Part 10—Transitional provisions, amendments and repeals relating to Telecom\n\n### Division 1—Interpretation\n\n#### 76 Interpretation—definitions\n\n  In this Part:\n\n> commencing day means the day on which the new Act commences.\n\n> new Act means the Australian Telecommunications Corporation Act 1989.\n\n> previous Act means the Telecommunications Act 1975.\n\n#### 77 Interpretation—expressions used in new Act\n\n  Unless the contrary intention appears, expressions used in this Part, and in the new Act, have the same respective meanings as in that Act.\n\n### Division 3—Non-taxation matters\n\n#### 85 Certain existing liabilities to the Commonwealth\n\n  Subject to any regulations made under the new Act, section 71 of the old Act, as in force immediately before the commencement of this Part, continues to have effect as if the previous Act had not been repealed.\n\n#### 88 Employment of staff members to continue\n\n  Each person who, immediately before the commencing day, was an employee of Telecom continues to be employed by it as if the person had been engaged under section 85 of the new Act.","sortOrder":4},{"sectionNumber":"60","sectionType":"section","heading":"Interpretation—definitions","content":"#### 60 Interpretation—definitions\n\n  In this Part:\n\n> commencing day means the day on which the new Act commences.\n\n> new Act means the Australian Postal Corporation Act 1989.\n\n> previous Act means the Postal Services Act 1975.","sortOrder":5},{"sectionNumber":"61","sectionType":"section","heading":"Interpretation—expressions used in new Act","content":"#### 61 Interpretation—expressions used in new Act\n\n  Unless the contrary intention appears, expressions used in this Part, and in the new Act, have the same respective meanings as in that Act.","sortOrder":6},{"sectionNumber":"Division 2","sectionType":"division","heading":"Taxation matters","content":"An Act to enact certain transitional provisions, make certain amendments, and effect certain repeals, in consequence of the enactment of the Telecommunications Act 1989, the Australian Postal Corporation Act 1989 and the Australian Telecommunications Corporation Act 1989, and for other purposes\n\n## Part 1—Preliminary\n\n#### 1 Short title\n\n  This Act may be cited as the Telecommunications and Postal Services (Transitional Provisions and Consequential Amendments) Act 1989.\n\n#### 2 Commencement\n\n  (1) Subject to this section, this Act commences on a day or days to be fixed by Proclamation.\n  (2) Sections 1 and 2 commence on the day on which this Act receives the Royal Assent.\n  (4) If a provision of this Act (other than section 1 or 2) does not commence under subsection (1) within the period of 6 months beginning on the day on which this Act receives the Royal Assent, it commences on the first day after the end of that period.\n\n## Part 9—Transitional provisions, amendments and repeals relating to Australia Post\n\n### Division 1—Interpretation\n\n#### 60 Interpretation—definitions\n\n  In this Part:\n\n> commencing day means the day on which the new Act commences.\n\n> new Act means the Australian Postal Corporation Act 1989.\n\n> previous Act means the Postal Services Act 1975.\n\n#### 61 Interpretation—expressions used in new Act\n\n  Unless the contrary intention appears, expressions used in this Part, and in the new Act, have the same respective meanings as in that Act.\n\n### Division 2—Taxation matters\n\n#### 62 Stamp duty not payable in relation to certain property etc.\n\n  (1) Stamp duty or similar tax is not payable by Australia Post under a law of a State or Territory in relation to property:\n    (a) acquired by Australia Post before the commencing day; or\n    (b) constructed by Australia Post before the commencing day.\n  (2) Without limiting subsection (1), stamp duty or similar tax is not payable under a law of a State or Territory on the registration under a law of the State or Territory of a motor vehicle acquired by Australia Post before the commencing day.\n\n#### 63 Stamp duty not payable in relation to certain transactions\n\n  Stamp duty or similar tax is not payable by Australia Post under a law of a State or Territory in relation to a transaction entered into by it before the commencing day.\n\n#### 64 Stamp duty not payable in relation to certain securities etc.\n\n  Stamp duty or any similar tax is not payable under a law of a State or Territory in relation to:\n    (a) a security issued by Australia Post before the commencing day;\n    (b) the issue, redemption, transfer, sale or purchase of such a security (other than a transaction entered into without consideration or for an inadequate consideration); or\n    (b) any document executed by or on behalf of Australia Post, or any transaction, in relation to money borrowed by Australia Post before the commencing day.\n\n#### 65 Commencement of Australia Post’s liability to pay income tax\n\n  Income derived by Australia Post in a year of income commencing before 1 July 1990 is exempt income for the purposes of the Income Tax Assessment Act 1936.\n\n#### 66 Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Income Tax Assessment Act 1936 the value to be taken into account at the beginning of the year of income commencing on 1 July 1990 in relation to Australia Post’s trading stock on hand at that time, Australia Post may, in accordance with subsection (2), exercise any option, and give any notice, in relation to the value of its trading stock on hand at the end of the preceding year of income.\n  (2) The option or notice:\n    (a) shall be exercised or given in writing to the Commissioner of Taxation; and\n    (b) shall be lodged with the Commissioner of Taxation on or before the day of lodgment of Australia Post’s return of income for the year of income commencing on 1 July 1990, or before such later day as the Commissioner of Taxation allows.\n  (3) If Australia Post does not exercise an option under subsection (1) in relation to particular trading stock, the value to be taken into account in accordance with the subsection in relation to that trading stock shall be the cost price.\n  (4) If Australia Post, under Subdivision B of Division 2 of Part III of the Income Tax Assessment Act 1936, adopts cost price as the basis of valuation in relation to any of its trading stock on hand at the end of the year of income commencing on 1 July 1990 that was on hand at the end of the preceding year of income, the cost price of that trading stock shall be taken to be equal to the value at which the trading stock was taken into account in accordance with subsection (1).\n\n#### 67 Accelerated depreciation not available for income tax purposes\n\n  Section 57AL of the Income Tax Assessment Act 1936, as in force immediately after the commencement of section 38 of the Taxation Laws Amendment Act (No. 4) 1988, does not apply in relation to any unit of property of Australia Post.\n\n#### 68 Transitional provisions for capital gains tax\n\n  (1) Where:\n    (a) Australia Post owns an asset at the end of 30 June 1990 (in this subsection called the “changeover time”); and\n    (b) the market value of the asset at the changeover time is greater than the amount that would be the indexed cost base to Australia Post in relation to the asset if Australia Post disposed of the asset at that time;\n  the following provisions have effect for the purpose of ascertaining under Part IIIA of the Income Tax Assessment Act 1936 whether a capital gain accrues in the event of a subsequent disposal of the asset by it:\n    (c) Australia Post shall be taken to have disposed of the asset at the changeover time for a consideration equal to the amount of that indexed cost base;\n    (d) Australia Post shall be taken to have immediately re-acquired the asset for a consideration equal to the market value of the asset at the changeover time;\n    (e) the reference in subsection 160Z(3) of the Income Tax Assessment Act 1936 to the day on which the asset was acquired by the taxpayer shall be taken to be a reference to the day on which the asset was actually acquired by Australia Post.\n  (2) If the asset is disposed of within 12 months of its actual acquisition by Australia Post, subsection (1) has effect as if the references in that subsection to the indexed cost base to Australia Post in relation to the asset were references to the cost base to Australia Post in relation to the asset.\n  (3) Where:\n    (a) Australia Post owns an asset at the end of 30 June 1990 (in this subsection called the “changeover time”); and\n    (b) the market value of the asset at the changeover time is less than the amount that would be the reduced cost base to Australia Post in relation to the asset if Australia Post disposed of the asset at that time;\n  the following provisions have effect for the purpose of ascertaining under Part IIIA of the Income Tax Assessment Act 1936 whether Australia Post incurred a capital loss in the event of a subsequent disposal of the asset by it:\n    (c) Australia Post shall be taken to have disposed of the asset at the changeover time for a consideration equal to the amount of that reduced cost base;\n    (d) Australia Post shall be taken to have immediately re-acquired the asset for a consideration equal to the market value of the asset at the changeover time.\n  (4) Expressions used in this section, and in Part IIIA of the Income Tax Assessment Act 1936, have the same respective meanings as in that Part.\n\n### Division 3—Non-taxation matters\n\n#### 69 Certain existing liabilities to the Commonwealth\n\n  Subject to any regulations made under the new Act, section 74 of the previous Act, as in force immediately before the commencement of this Part, continues to have effect as if the previous Act had not been repealed.\n\n#### 72 Employment of staff members to continue\n\n  Each person who, immediately before the commencing day, was an employee of Australia Post continues to be employed by it as if the person had been engaged under section 89 of the new Act.\n\n#### 73 Unclaimed amounts\n\n  (1) Amounts paid into the Unclaimed Moneys Fund kept by Australia Post under section 107 of the previous Act shall be dealt with as if they had been paid into the Unclaimed Money Fund kept under section 98 of the new Act.\n  (2) Amounts paid into the Consolidated Revenue Fund under section 107 of the previous Act shall be dealt with as if that Act had not been repealed.\n\n## Part 10—Transitional provisions, amendments and repeals relating to Telecom\n\n### Division 1—Interpretation\n\n#### 76 Interpretation—definitions\n\n  In this Part:\n\n> commencing day means the day on which the new Act commences.\n\n> new Act means the Australian Telecommunications Corporation Act 1989.\n\n> previous Act means the Telecommunications Act 1975.\n\n#### 77 Interpretation—expressions used in new Act\n\n  Unless the contrary intention appears, expressions used in this Part, and in the new Act, have the same respective meanings as in that Act.\n\n### Division 3—Non-taxation matters\n\n#### 85 Certain existing liabilities to the Commonwealth\n\n  Subject to any regulations made under the new Act, section 71 of the old Act, as in force immediately before the commencement of this Part, continues to have effect as if the previous Act had not been repealed.\n\n#### 88 Employment of staff members to continue\n\n  Each person who, immediately before the commencing day, was an employee of Telecom continues to be employed by it as if the person had been engaged under section 85 of the new Act.","sortOrder":7},{"sectionNumber":"62","sectionType":"section","heading":"Stamp duty not payable in relation to certain property etc.","content":"#### 62 Stamp duty not payable in relation to certain property etc.\n\n  (1) Stamp duty or similar tax is not payable by Australia Post under a law of a State or Territory in relation to property:\n    (a) acquired by Australia Post before the commencing day; or\n    (b) constructed by Australia Post before the commencing day.\n  (2) Without limiting subsection (1), stamp duty or similar tax is not payable under a law of a State or Territory on the registration under a law of the State or Territory of a motor vehicle acquired by Australia Post before the commencing day.","sortOrder":8},{"sectionNumber":"63","sectionType":"section","heading":"Stamp duty not payable in relation to certain transactions","content":"#### 63 Stamp duty not payable in relation to certain transactions\n\n  Stamp duty or similar tax is not payable by Australia Post under a law of a State or Territory in relation to a transaction entered into by it before the commencing day.","sortOrder":9},{"sectionNumber":"64","sectionType":"section","heading":"Stamp duty not payable in relation to certain securities etc.","content":"#### 64 Stamp duty not payable in relation to certain securities etc.\n\n  Stamp duty or any similar tax is not payable under a law of a State or Territory in relation to:\n    (a) a security issued by Australia Post before the commencing day;\n    (b) the issue, redemption, transfer, sale or purchase of such a security (other than a transaction entered into without consideration or for an inadequate consideration); or\n    (b) any document executed by or on behalf of Australia Post, or any transaction, in relation to money borrowed by Australia Post before the commencing day.","sortOrder":10},{"sectionNumber":"65","sectionType":"section","heading":"Commencement of Australia Post’s liability to pay income tax","content":"#### 65 Commencement of Australia Post’s liability to pay income tax\n\n  Income derived by Australia Post in a year of income commencing before 1 July 1990 is exempt income for the purposes of the Income Tax Assessment Act 1936.","sortOrder":11},{"sectionNumber":"66","sectionType":"section","heading":"Value of trading stock for income tax purposes","content":"#### 66 Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Income Tax Assessment Act 1936 the value to be taken into account at the beginning of the year of income commencing on 1 July 1990 in relation to Australia Post’s trading stock on hand at that time, Australia Post may, in accordance with subsection (2), exercise any option, and give any notice, in relation to the value of its trading stock on hand at the end of the preceding year of income.\n  (2) The option or notice:\n    (a) shall be exercised or given in writing to the Commissioner of Taxation; and\n    (b) shall be lodged with the Commissioner of Taxation on or before the day of lodgment of Australia Post’s return of income for the year of income commencing on 1 July 1990, or before such later day as the Commissioner of Taxation allows.\n  (3) If Australia Post does not exercise an option under subsection (1) in relation to particular trading stock, the value to be taken into account in accordance with the subsection in relation to that trading stock shall be the cost price.\n  (4) If Australia Post, under Subdivision B of Division 2 of Part III of the Income Tax Assessment Act 1936, adopts cost price as the basis of valuation in relation to any of its trading stock on hand at the end of the year of income commencing on 1 July 1990 that was on hand at the end of the preceding year of income, the cost price of that trading stock shall be taken to be equal to the value at which the trading stock was taken into account in accordance with subsection (1).","sortOrder":12},{"sectionNumber":"67","sectionType":"section","heading":"Accelerated depreciation not available for income tax purposes","content":"#### 67 Accelerated depreciation not available for income tax purposes\n\n  Section 57AL of the Income Tax Assessment Act 1936, as in force immediately after the commencement of section 38 of the Taxation Laws Amendment Act (No. 4) 1988, does not apply in relation to any unit of property of Australia Post.","sortOrder":13},{"sectionNumber":"68","sectionType":"section","heading":"Transitional provisions for capital gains tax","content":"#### 68 Transitional provisions for capital gains tax\n\n  (1) Where:\n    (a) Australia Post owns an asset at the end of 30 June 1990 (in this subsection called the “changeover time”); and\n    (b) the market value of the asset at the changeover time is greater than the amount that would be the indexed cost base to Australia Post in relation to the asset if Australia Post disposed of the asset at that time;\n  the following provisions have effect for the purpose of ascertaining under Part IIIA of the Income Tax Assessment Act 1936 whether a capital gain accrues in the event of a subsequent disposal of the asset by it:\n    (c) Australia Post shall be taken to have disposed of the asset at the changeover time for a consideration equal to the amount of that indexed cost base;\n    (d) Australia Post shall be taken to have immediately re-acquired the asset for a consideration equal to the market value of the asset at the changeover time;\n    (e) the reference in subsection 160Z(3) of the Income Tax Assessment Act 1936 to the day on which the asset was acquired by the taxpayer shall be taken to be a reference to the day on which the asset was actually acquired by Australia Post.\n  (2) If the asset is disposed of within 12 months of its actual acquisition by Australia Post, subsection (1) has effect as if the references in that subsection to the indexed cost base to Australia Post in relation to the asset were references to the cost base to Australia Post in relation to the asset.\n  (3) Where:\n    (a) Australia Post owns an asset at the end of 30 June 1990 (in this subsection called the “changeover time”); and\n    (b) the market value of the asset at the changeover time is less than the amount that would be the reduced cost base to Australia Post in relation to the asset if Australia Post disposed of the asset at that time;\n  the following provisions have effect for the purpose of ascertaining under Part IIIA of the Income Tax Assessment Act 1936 whether Australia Post incurred a capital loss in the event of a subsequent disposal of the asset by it:\n    (c) Australia Post shall be taken to have disposed of the asset at the changeover time for a consideration equal to the amount of that reduced cost base;\n    (d) Australia Post shall be taken to have immediately re-acquired the asset for a consideration equal to the market value of the asset at the changeover time.\n  (4) Expressions used in this section, and in Part IIIA of the Income Tax Assessment Act 1936, have the same respective meanings as in that Part.","sortOrder":14},{"sectionNumber":"Division 3","sectionType":"division","heading":"Non-taxation matters","content":"An Act to enact certain transitional provisions, make certain amendments, and effect certain repeals, in consequence of the enactment of the Telecommunications Act 1989, the Australian Postal Corporation Act 1989 and the Australian Telecommunications Corporation Act 1989, and for other purposes\n\n## Part 1—Preliminary\n\n#### 1 Short title\n\n  This Act may be cited as the Telecommunications and Postal Services (Transitional Provisions and Consequential Amendments) Act 1989.\n\n#### 2 Commencement\n\n  (1) Subject to this section, this Act commences on a day or days to be fixed by Proclamation.\n  (2) Sections 1 and 2 commence on the day on which this Act receives the Royal Assent.\n  (4) If a provision of this Act (other than section 1 or 2) does not commence under subsection (1) within the period of 6 months beginning on the day on which this Act receives the Royal Assent, it commences on the first day after the end of that period.\n\n## Part 9—Transitional provisions, amendments and repeals relating to Australia Post\n\n### Division 1—Interpretation\n\n#### 60 Interpretation—definitions\n\n  In this Part:\n\n> commencing day means the day on which the new Act commences.\n\n> new Act means the Australian Postal Corporation Act 1989.\n\n> previous Act means the Postal Services Act 1975.\n\n#### 61 Interpretation—expressions used in new Act\n\n  Unless the contrary intention appears, expressions used in this Part, and in the new Act, have the same respective meanings as in that Act.\n\n### Division 2—Taxation matters\n\n#### 62 Stamp duty not payable in relation to certain property etc.\n\n  (1) Stamp duty or similar tax is not payable by Australia Post under a law of a State or Territory in relation to property:\n    (a) acquired by Australia Post before the commencing day; or\n    (b) constructed by Australia Post before the commencing day.\n  (2) Without limiting subsection (1), stamp duty or similar tax is not payable under a law of a State or Territory on the registration under a law of the State or Territory of a motor vehicle acquired by Australia Post before the commencing day.\n\n#### 63 Stamp duty not payable in relation to certain transactions\n\n  Stamp duty or similar tax is not payable by Australia Post under a law of a State or Territory in relation to a transaction entered into by it before the commencing day.\n\n#### 64 Stamp duty not payable in relation to certain securities etc.\n\n  Stamp duty or any similar tax is not payable under a law of a State or Territory in relation to:\n    (a) a security issued by Australia Post before the commencing day;\n    (b) the issue, redemption, transfer, sale or purchase of such a security (other than a transaction entered into without consideration or for an inadequate consideration); or\n    (b) any document executed by or on behalf of Australia Post, or any transaction, in relation to money borrowed by Australia Post before the commencing day.\n\n#### 65 Commencement of Australia Post’s liability to pay income tax\n\n  Income derived by Australia Post in a year of income commencing before 1 July 1990 is exempt income for the purposes of the Income Tax Assessment Act 1936.\n\n#### 66 Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Income Tax Assessment Act 1936 the value to be taken into account at the beginning of the year of income commencing on 1 July 1990 in relation to Australia Post’s trading stock on hand at that time, Australia Post may, in accordance with subsection (2), exercise any option, and give any notice, in relation to the value of its trading stock on hand at the end of the preceding year of income.\n  (2) The option or notice:\n    (a) shall be exercised or given in writing to the Commissioner of Taxation; and\n    (b) shall be lodged with the Commissioner of Taxation on or before the day of lodgment of Australia Post’s return of income for the year of income commencing on 1 July 1990, or before such later day as the Commissioner of Taxation allows.\n  (3) If Australia Post does not exercise an option under subsection (1) in relation to particular trading stock, the value to be taken into account in accordance with the subsection in relation to that trading stock shall be the cost price.\n  (4) If Australia Post, under Subdivision B of Division 2 of Part III of the Income Tax Assessment Act 1936, adopts cost price as the basis of valuation in relation to any of its trading stock on hand at the end of the year of income commencing on 1 July 1990 that was on hand at the end of the preceding year of income, the cost price of that trading stock shall be taken to be equal to the value at which the trading stock was taken into account in accordance with subsection (1).\n\n#### 67 Accelerated depreciation not available for income tax purposes\n\n  Section 57AL of the Income Tax Assessment Act 1936, as in force immediately after the commencement of section 38 of the Taxation Laws Amendment Act (No. 4) 1988, does not apply in relation to any unit of property of Australia Post.\n\n#### 68 Transitional provisions for capital gains tax\n\n  (1) Where:\n    (a) Australia Post owns an asset at the end of 30 June 1990 (in this subsection called the “changeover time”); and\n    (b) the market value of the asset at the changeover time is greater than the amount that would be the indexed cost base to Australia Post in relation to the asset if Australia Post disposed of the asset at that time;\n  the following provisions have effect for the purpose of ascertaining under Part IIIA of the Income Tax Assessment Act 1936 whether a capital gain accrues in the event of a subsequent disposal of the asset by it:\n    (c) Australia Post shall be taken to have disposed of the asset at the changeover time for a consideration equal to the amount of that indexed cost base;\n    (d) Australia Post shall be taken to have immediately re-acquired the asset for a consideration equal to the market value of the asset at the changeover time;\n    (e) the reference in subsection 160Z(3) of the Income Tax Assessment Act 1936 to the day on which the asset was acquired by the taxpayer shall be taken to be a reference to the day on which the asset was actually acquired by Australia Post.\n  (2) If the asset is disposed of within 12 months of its actual acquisition by Australia Post, subsection (1) has effect as if the references in that subsection to the indexed cost base to Australia Post in relation to the asset were references to the cost base to Australia Post in relation to the asset.\n  (3) Where:\n    (a) Australia Post owns an asset at the end of 30 June 1990 (in this subsection called the “changeover time”); and\n    (b) the market value of the asset at the changeover time is less than the amount that would be the reduced cost base to Australia Post in relation to the asset if Australia Post disposed of the asset at that time;\n  the following provisions have effect for the purpose of ascertaining under Part IIIA of the Income Tax Assessment Act 1936 whether Australia Post incurred a capital loss in the event of a subsequent disposal of the asset by it:\n    (c) Australia Post shall be taken to have disposed of the asset at the changeover time for a consideration equal to the amount of that reduced cost base;\n    (d) Australia Post shall be taken to have immediately re-acquired the asset for a consideration equal to the market value of the asset at the changeover time.\n  (4) Expressions used in this section, and in Part IIIA of the Income Tax Assessment Act 1936, have the same respective meanings as in that Part.\n\n### Division 3—Non-taxation matters\n\n#### 69 Certain existing liabilities to the Commonwealth\n\n  Subject to any regulations made under the new Act, section 74 of the previous Act, as in force immediately before the commencement of this Part, continues to have effect as if the previous Act had not been repealed.\n\n#### 72 Employment of staff members to continue\n\n  Each person who, immediately before the commencing day, was an employee of Australia Post continues to be employed by it as if the person had been engaged under section 89 of the new Act.\n\n#### 73 Unclaimed amounts\n\n  (1) Amounts paid into the Unclaimed Moneys Fund kept by Australia Post under section 107 of the previous Act shall be dealt with as if they had been paid into the Unclaimed Money Fund kept under section 98 of the new Act.\n  (2) Amounts paid into the Consolidated Revenue Fund under section 107 of the previous Act shall be dealt with as if that Act had not been repealed.\n\n## Part 10—Transitional provisions, amendments and repeals relating to Telecom\n\n### Division 1—Interpretation\n\n#### 76 Interpretation—definitions\n\n  In this Part:\n\n> commencing day means the day on which the new Act commences.\n\n> new Act means the Australian Telecommunications Corporation Act 1989.\n\n> previous Act means the Telecommunications Act 1975.\n\n#### 77 Interpretation—expressions used in new Act\n\n  Unless the contrary intention appears, expressions used in this Part, and in the new Act, have the same respective meanings as in that Act.\n\n### Division 3—Non-taxation matters\n\n#### 85 Certain existing liabilities to the Commonwealth\n\n  Subject to any regulations made under the new Act, section 71 of the old Act, as in force immediately before the commencement of this Part, continues to have effect as if the previous Act had not been repealed.\n\n#### 88 Employment of staff members to continue\n\n  Each person who, immediately before the commencing day, was an employee of Telecom continues to be employed by it as if the person had been engaged under section 85 of the new Act.","sortOrder":15},{"sectionNumber":"69","sectionType":"section","heading":"Certain existing liabilities to the Commonwealth","content":"#### 69 Certain existing liabilities to the Commonwealth\n\n  Subject to any regulations made under the new Act, section 74 of the previous Act, as in force immediately before the commencement of this Part, continues to have effect as if the previous Act had not been repealed.","sortOrder":16},{"sectionNumber":"72","sectionType":"section","heading":"Employment of staff members to continue","content":"#### 72 Employment of staff members to continue\n\n  Each person who, immediately before the commencing day, was an employee of Australia Post continues to be employed by it as if the person had been engaged under section 89 of the new Act.","sortOrder":17},{"sectionNumber":"73","sectionType":"section","heading":"Unclaimed amounts","content":"#### 73 Unclaimed amounts\n\n  (1) Amounts paid into the Unclaimed Moneys Fund kept by Australia Post under section 107 of the previous Act shall be dealt with as if they had been paid into the Unclaimed Money Fund kept under section 98 of the new Act.\n  (2) Amounts paid into the Consolidated Revenue Fund under section 107 of the previous Act shall be dealt with as if that Act had not been repealed.","sortOrder":18},{"sectionNumber":"Part 10","sectionType":"part","heading":"Transitional provisions, amendments and repeals relating to Telecom","content":"An Act to enact certain transitional provisions, make certain amendments, and effect certain repeals, in consequence of the enactment of the Telecommunications Act 1989, the Australian Postal Corporation Act 1989 and the Australian Telecommunications Corporation Act 1989, and for other purposes\n\n## Part 1—Preliminary\n\n#### 1 Short title\n\n  This Act may be cited as the Telecommunications and Postal Services (Transitional Provisions and Consequential Amendments) Act 1989.\n\n#### 2 Commencement\n\n  (1) Subject to this section, this Act commences on a day or days to be fixed by Proclamation.\n  (2) Sections 1 and 2 commence on the day on which this Act receives the Royal Assent.\n  (4) If a provision of this Act (other than section 1 or 2) does not commence under subsection (1) within the period of 6 months beginning on the day on which this Act receives the Royal Assent, it commences on the first day after the end of that period.\n\n## Part 9—Transitional provisions, amendments and repeals relating to Australia Post\n\n### Division 1—Interpretation\n\n#### 60 Interpretation—definitions\n\n  In this Part:\n\n> commencing day means the day on which the new Act commences.\n\n> new Act means the Australian Postal Corporation Act 1989.\n\n> previous Act means the Postal Services Act 1975.\n\n#### 61 Interpretation—expressions used in new Act\n\n  Unless the contrary intention appears, expressions used in this Part, and in the new Act, have the same respective meanings as in that Act.\n\n### Division 2—Taxation matters\n\n#### 62 Stamp duty not payable in relation to certain property etc.\n\n  (1) Stamp duty or similar tax is not payable by Australia Post under a law of a State or Territory in relation to property:\n    (a) acquired by Australia Post before the commencing day; or\n    (b) constructed by Australia Post before the commencing day.\n  (2) Without limiting subsection (1), stamp duty or similar tax is not payable under a law of a State or Territory on the registration under a law of the State or Territory of a motor vehicle acquired by Australia Post before the commencing day.\n\n#### 63 Stamp duty not payable in relation to certain transactions\n\n  Stamp duty or similar tax is not payable by Australia Post under a law of a State or Territory in relation to a transaction entered into by it before the commencing day.\n\n#### 64 Stamp duty not payable in relation to certain securities etc.\n\n  Stamp duty or any similar tax is not payable under a law of a State or Territory in relation to:\n    (a) a security issued by Australia Post before the commencing day;\n    (b) the issue, redemption, transfer, sale or purchase of such a security (other than a transaction entered into without consideration or for an inadequate consideration); or\n    (b) any document executed by or on behalf of Australia Post, or any transaction, in relation to money borrowed by Australia Post before the commencing day.\n\n#### 65 Commencement of Australia Post’s liability to pay income tax\n\n  Income derived by Australia Post in a year of income commencing before 1 July 1990 is exempt income for the purposes of the Income Tax Assessment Act 1936.\n\n#### 66 Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Income Tax Assessment Act 1936 the value to be taken into account at the beginning of the year of income commencing on 1 July 1990 in relation to Australia Post’s trading stock on hand at that time, Australia Post may, in accordance with subsection (2), exercise any option, and give any notice, in relation to the value of its trading stock on hand at the end of the preceding year of income.\n  (2) The option or notice:\n    (a) shall be exercised or given in writing to the Commissioner of Taxation; and\n    (b) shall be lodged with the Commissioner of Taxation on or before the day of lodgment of Australia Post’s return of income for the year of income commencing on 1 July 1990, or before such later day as the Commissioner of Taxation allows.\n  (3) If Australia Post does not exercise an option under subsection (1) in relation to particular trading stock, the value to be taken into account in accordance with the subsection in relation to that trading stock shall be the cost price.\n  (4) If Australia Post, under Subdivision B of Division 2 of Part III of the Income Tax Assessment Act 1936, adopts cost price as the basis of valuation in relation to any of its trading stock on hand at the end of the year of income commencing on 1 July 1990 that was on hand at the end of the preceding year of income, the cost price of that trading stock shall be taken to be equal to the value at which the trading stock was taken into account in accordance with subsection (1).\n\n#### 67 Accelerated depreciation not available for income tax purposes\n\n  Section 57AL of the Income Tax Assessment Act 1936, as in force immediately after the commencement of section 38 of the Taxation Laws Amendment Act (No. 4) 1988, does not apply in relation to any unit of property of Australia Post.\n\n#### 68 Transitional provisions for capital gains tax\n\n  (1) Where:\n    (a) Australia Post owns an asset at the end of 30 June 1990 (in this subsection called the “changeover time”); and\n    (b) the market value of the asset at the changeover time is greater than the amount that would be the indexed cost base to Australia Post in relation to the asset if Australia Post disposed of the asset at that time;\n  the following provisions have effect for the purpose of ascertaining under Part IIIA of the Income Tax Assessment Act 1936 whether a capital gain accrues in the event of a subsequent disposal of the asset by it:\n    (c) Australia Post shall be taken to have disposed of the asset at the changeover time for a consideration equal to the amount of that indexed cost base;\n    (d) Australia Post shall be taken to have immediately re-acquired the asset for a consideration equal to the market value of the asset at the changeover time;\n    (e) the reference in subsection 160Z(3) of the Income Tax Assessment Act 1936 to the day on which the asset was acquired by the taxpayer shall be taken to be a reference to the day on which the asset was actually acquired by Australia Post.\n  (2) If the asset is disposed of within 12 months of its actual acquisition by Australia Post, subsection (1) has effect as if the references in that subsection to the indexed cost base to Australia Post in relation to the asset were references to the cost base to Australia Post in relation to the asset.\n  (3) Where:\n    (a) Australia Post owns an asset at the end of 30 June 1990 (in this subsection called the “changeover time”); and\n    (b) the market value of the asset at the changeover time is less than the amount that would be the reduced cost base to Australia Post in relation to the asset if Australia Post disposed of the asset at that time;\n  the following provisions have effect for the purpose of ascertaining under Part IIIA of the Income Tax Assessment Act 1936 whether Australia Post incurred a capital loss in the event of a subsequent disposal of the asset by it:\n    (c) Australia Post shall be taken to have disposed of the asset at the changeover time for a consideration equal to the amount of that reduced cost base;\n    (d) Australia Post shall be taken to have immediately re-acquired the asset for a consideration equal to the market value of the asset at the changeover time.\n  (4) Expressions used in this section, and in Part IIIA of the Income Tax Assessment Act 1936, have the same respective meanings as in that Part.\n\n### Division 3—Non-taxation matters\n\n#### 69 Certain existing liabilities to the Commonwealth\n\n  Subject to any regulations made under the new Act, section 74 of the previous Act, as in force immediately before the commencement of this Part, continues to have effect as if the previous Act had not been repealed.\n\n#### 72 Employment of staff members to continue\n\n  Each person who, immediately before the commencing day, was an employee of Australia Post continues to be employed by it as if the person had been engaged under section 89 of the new Act.\n\n#### 73 Unclaimed amounts\n\n  (1) Amounts paid into the Unclaimed Moneys Fund kept by Australia Post under section 107 of the previous Act shall be dealt with as if they had been paid into the Unclaimed Money Fund kept under section 98 of the new Act.\n  (2) Amounts paid into the Consolidated Revenue Fund under section 107 of the previous Act shall be dealt with as if that Act had not been repealed.\n\n## Part 10—Transitional provisions, amendments and repeals relating to Telecom\n\n### Division 1—Interpretation\n\n#### 76 Interpretation—definitions\n\n  In this Part:\n\n> commencing day means the day on which the new Act commences.\n\n> new Act means the Australian Telecommunications Corporation Act 1989.\n\n> previous Act means the Telecommunications Act 1975.\n\n#### 77 Interpretation—expressions used in new Act\n\n  Unless the contrary intention appears, expressions used in this Part, and in the new Act, have the same respective meanings as in that Act.\n\n### Division 3—Non-taxation matters\n\n#### 85 Certain existing liabilities to the Commonwealth\n\n  Subject to any regulations made under the new Act, section 71 of the old Act, as in force immediately before the commencement of this Part, continues to have effect as if the previous Act had not been repealed.\n\n#### 88 Employment of staff members to continue\n\n  Each person who, immediately before the commencing day, was an employee of Telecom continues to be employed by it as if the person had been engaged under section 85 of the new Act.","sortOrder":19},{"sectionNumber":"76","sectionType":"section","heading":"Interpretation—definitions","content":"#### 76 Interpretation—definitions\n\n  In this Part:\n\n> commencing day means the day on which the new Act commences.\n\n> new Act means the Australian Telecommunications Corporation Act 1989.\n\n> previous Act means the Telecommunications Act 1975.","sortOrder":21},{"sectionNumber":"77","sectionType":"section","heading":"Interpretation—expressions used in new Act","content":"#### 77 Interpretation—expressions used in new Act\n\n  Unless the contrary intention appears, expressions used in this Part, and in the new Act, have the same respective meanings as in that Act.","sortOrder":22},{"sectionNumber":"85","sectionType":"section","heading":"Certain existing liabilities to the Commonwealth","content":"#### 85 Certain existing liabilities to the Commonwealth\n\n  Subject to any regulations made under the new Act, section 71 of the old Act, as in force immediately before the commencement of this Part, continues to have effect as if the previous Act had not been repealed.","sortOrder":24},{"sectionNumber":"88","sectionType":"section","heading":"Employment of staff members to continue","content":"#### 88 Employment of staff members to continue\n\n  Each person who, immediately before the commencing day, was an employee of Telecom continues to be employed by it as if the person had been engaged under section 85 of the new Act.","sortOrder":25}],"analysis":{"summary":{"complexity_score":6,"scope_assessment":{"changed":false,"description":"The Act does exactly what its title and preamble state: it enacts transitional provisions and consequential amendments arising from the 1989 restructure of postal and telecommunications services. The provisions visible in the extract are consistent with this stated purpose, covering taxation, employment continuity, existing liabilities, and unclaimed funds for Australia Post and Telecom. There is no evidence of scope creep beyond the original intent."},"complexity_factors":["Multiple cross-references to other legislation (Income Tax Assessment Act 1936, Postal Services Act 1975, Telecommunications Act 1975, and three 1989 Acts), requiring readers to consult several laws simultaneously","Detailed capital gains tax provisions involving concepts like 'indexed cost base', 'reduced cost base', and deemed disposal and re-acquisition — technical tax law requiring specialist knowledge","Trading stock valuation rules involve interaction between transitional provisions and the Income Tax Assessment Act 1936, with conditional outcomes depending on Australia Post's choices","Staggered commencement provisions with multiple trigger mechanisms (Proclamation, Royal Assent, and automatic fallback after 6 months)","Covers two separate entities (Australia Post and Telecom) with parallel but distinct provisions, requiring careful cross-referencing","Heavy use of legal deeming (treating something as if it were something else) which is inherently abstract","The document provided contains significant repetition of identical sections, making it structurally confusing to navigate","Historical context essential — provisions are only intelligible against the backdrop of the 1989 restructure of Commonwealth government business enterprises"],"plain_english_summary":"## What This Law Does\n\nThis Act is a **housekeeping law** from 1989 that managed the transition when the Australian federal government restructured its postal and telecommunications services. Specifically, it dealt with the changeover from two old government bodies — the postal service under the *Postal Services Act 1975* and the telecommunications service (Telecom) under the *Telecommunications Act 1975* — to new corporate structures under three new 1989 Acts.\n\n## Who It Affects\n\nThis law primarily affected **two organisations**:\n- **Australia Post** (the national postal service)\n- **Telecom** (now known as Telstra, the national telecommunications carrier)\n\nFor ordinary Australians, the practical impact was largely invisible — it was designed to ensure services continued without interruption during the changeover.\n\n## What It Actually Does\n\n**For Australia Post and Telecom employees:** Staff kept their jobs automatically. No one needed to be re-hired or sign new contracts — the law simply deemed (treated as if) they were employed under the new rules from day one.\n\n**Tax breaks during the changeover:** To avoid penalising Australia Post for the restructure, the law:\n- Exempted it from paying **stamp duty** (a state/territory tax on certain transactions and property transfers) on property, vehicles, transactions, and financial instruments acquired *before* the changeover date\n- Made Australia Post's income **tax-free** until 1 July 1990, giving it time to get set up as a taxpaying corporation\n- Set rules for how Australia Post's **trading stock** (goods held for sale) would be valued for tax purposes when it first became a taxpayer\n- Blocked Australia Post from using **accelerated depreciation** (a tax benefit allowing faster write-offs of asset values) that other businesses could access\n- Established special rules for **capital gains tax** (tax on profits from selling assets) to ensure assets were revalued at market value at the changeover date, preventing unfair tax outcomes on assets acquired long before the restructure\n\n**Existing debts and obligations:** Any liabilities Australia Post or Telecom had to the Commonwealth (federal government) under the old laws were carried over and remained enforceable.\n\n**Unclaimed money:** Funds sitting in Australia Post's old 'Unclaimed Moneys Fund' were transferred across to the equivalent fund under the new law.\n\n## Why It Matters\n\nThis is largely a **historical document** — its provisions have long since served their purpose. The transition it managed happened over 35 years ago. It is unlikely to have any direct relevance to individuals today unless they are researching the legal history of Australia Post or Telstra."},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":true,"description":"This Act changes the legal and tax treatment that applied under the previous Postal Services Act 1975 and Telecommunications Act 1975 at the point the new corporate Acts commence. Concretely, it (a) removes Australia Post’s exposure to State/Territory stamp duties and similar taxes for property, transactions, securities and certain vehicle registrations carried out before the commencing day (ss 62–64); (b) treats Australia Post income for years commencing before 1 July 1990 as exempt for federal income tax (s 65) and prescribes valuation options and lodgment procedures for trading stock at the start of the 1990–91 year (s 66); (c) disapplies accelerated depreciation for Australia Post property (s 67) and sets deemed disposal/re‑acquisition rules for capital gains timing at 30 June 1990 (s 68); and (d) preserves certain liabilities, unclaimed money treatments and employee continuity as if the old Acts had not been repealed, subject to regulations under the new Acts (ss 69, 72, 73, 85, 88). These are concrete scope changes from the previous Acts: they alter tax liabilities, accounting bases and administrative continuity rules for Australia Post and Telecom at the changeover."},"complexity_factors":["Cross‑references to multiple other statutes (Income Tax Assessment Act 1936; Part IIIA capital gains provisions) increase legal reading complexity (ss 65–68).","Timing and commencement rules with proclamation and a fallback six‑month automatic commencement create temporal complexity (s 2).","Technical tax mechanics: deemed disposal/re‑acquisition for CGT purposes require asset valuation and bookkeeping at a defined date (s 68).","Options and procedural requirements: Australia Post must lodge written valuation options with the Commissioner by lodgment time, with limited discretion for late lodgment (s 66(1)–(2)).","Interplay between Commonwealth transitional exemptions and State/Territory tax laws (stamp duty and similar taxes) creates multi‑jurisdictional implementation issues (ss 62–64).","Preservation of existing liabilities subject to regulations under the new Acts introduces executive discretion and potential regulatory variation (ss 69, 85).","Repetition and narrow technical scope (many provisions are limited to pre‑commencement acts or to employees) reduces conceptual simplicity despite limited policy scope."],"plain_english_summary":"# What this Act does\n\nThis Act puts in place transitional and consequential rules that take effect when three new Commonwealth laws start (the Australian Postal Corporation Act 1989, the Australian Telecommunications Corporation Act 1989 and the Telecommunications Act 1989). It fixes how certain tax, employment and other legal matters are handled at the point those new Acts commence, so there is a clear legal and tax position for Australia Post and Telecom as they move from the old statutory regimes to the new corporate regimes.\n\n- Commencement: the Governor‑General (by proclamation) sets the day or days the Act comes into force; sections 1 and 2 start on Royal Assent and any other provision not proclaimed within 6 months starts automatically after that 6‑month window (s 2).\n\n## Main practical effects and who is affected\n\n- Stamp duty and similar State/Territory taxes: Australia Post is relieved from paying stamp duty or similar State/Territory taxes in relation to property acquired or constructed before the new postal Act’s commencing day (s 62). It is also relieved in relation to transactions entered into before that day (s 63) and in relation to certain securities and borrowing documents issued or executed before that day (s 64). These provisions reduce Australia Post’s tax liabilities that would otherwise arise under State/Territory laws for pre‑commencement acts.\n\n- Income tax timing and stock valuation: income Australia Post derived in any income year that began before 1 July 1990 is treated as exempt for federal income tax purposes (s 65). For the income year beginning 1 July 1990, Australia Post may choose valuation options for trading stock on hand at that time and must lodge any written option/notice with the Commissioner of Taxation by the time it lodges its return (or later if the Commissioner allows) (s 66(1)–(2)). If no option is exercised, cost price is the default (s 66(3)–(4)).\n\n- Depreciation and capital gains transitional rules: accelerated depreciation under section 57AL of the Income Tax Assessment Act 1936 is made unavailable for Australia Post property (s 67). For capital gains tax, the Act treats assets held at 30 June 1990 as if Australia Post had disposed of them at that time (for an amount equal to the indexed cost base or reduced cost base as appropriate) and immediately re‑acquired them at market value at that time; the rules in s 68 set how later gains or losses are worked out and which acquisition date is relevant for subsequent disposals (s 68(1)–(4)). These are mechanical rules that convert the switch to the new tax regime into defined tax bookkeeping events.\n\n- Continuity of liabilities and funds: specified liabilities to the Commonwealth under the repealed Acts continue to operate as if the old Acts had not been repealed, subject to regulations under the new Acts (Australia Post: s 69; Telecom: s 85). Money already paid into unclaimed moneys or Consolidated Revenue under the previous postal Act is to be handled under corresponding provisions in the new postal Act or as if the old Act remained in force (s 73(1)–(2)).\n\n- Employment continuity: employees of Australia Post and employees of Telecom who were employed immediately before the relevant commencing day continue as employees of the new corporations on terms as if engaged under specified sections of the new Acts (Australia Post: s 72; Telecom: s 88). This preserves employment relationships and avoids immediate re‑hiring processes.\n\n## Why this matters (stated purpose and practical testing)\n\nThe Act’s stated purpose is to provide a clear legal and tax transition from the old postal and telecommunications statutory frameworks to new corporate regimes. Mechanically, it does three kinds of things:\n\n1. Remove or fix tax obligations arising from acts done before the new Acts took effect (stamp duty and transaction taxes: ss 62–64);\n2. Set federal income tax treatment for pre‑commencement income, trading stock valuation choices and capital gains transition mechanics (ss 65–68); and\n3. Preserve certain legal relationships and administrative continuity (liabilities, unclaimed monies, employee status: ss 69, 72, 73, 85, 88).\n\nTesting those claims against costs and trade‑offs visible in the text:\n\n- Who pays and who benefits: the immediate fiscal effect is to reduce or eliminate certain State/Territory tax liabilities and federal income tax liabilities for Australia Post in respect of pre‑commencement periods (ss 62–65). That lowers Australia Post’s cash tax costs for the specified pre‑commencement items (ss 62–65). The Act does not impose new taxes on third parties in the text provided.\n\n- Administrative and compliance burdens: Australia Post must exercise and lodge any trading stock valuation option in writing with the Commissioner of Taxation by lodgment time (s 66(1)–(2)). That creates a one‑off administrative requirement and a deadline. The Commissioner may allow a later day (s 66(2)(b)), giving administrative discretion.\n\n- Bureaucratic discretion and regulatory interaction: several provisions preserve the continuing effect of particular sections of the old Acts \"subject to any regulations made under the new Act\" (s 69 for Australia Post; s 85 for Telecom). That gives the executive branch regulation‑making room to modify how those continued liabilities operate. The trading stock option also depends on the Commissioner’s permission for late lodgment (s 66(2)(b)), which is an explicit discretionary link to the tax authority.\n\n- Effects on private enterprise and competition: mechanically the Act reduces transitional tax costs for Australia Post (ss 62–68). The text does not directly change the regulatory rules of competition or market access in the new postal or telecommunications Acts; it only sets tax and continuity mechanics at changeover. Any indirect competitive effect would arise if the reduced transitional tax burden changed Australia Post’s post‑commencement pricing or investment choices, but the Act itself only prescribes the tax treatment for specific pre‑commencement items (ss 62–68).\n\n- Implementation risks and opportunity costs: the capital gains deemed disposal/re‑acquisition mechanics (s 68) and the disapplication of accelerated depreciation for Australia Post (s 67) are detailed technical rules that will require accurate asset valuation at the changeover time and careful tax accounting. Mistakes in valuation or in lodging notices could produce disputes with the Commissioner of Taxation (ss 66, 68). The Act shifts record‑keeping and valuation responsibilities to Australia Post for the changeover.\n\n## Short list of the key sections to read\n\n- Commencement and timing: s 2.\n- Stamp duty / State taxes relief: ss 62–64.\n- Income tax exemption for pre‑1 July 1990 income: s 65.\n- Trading stock valuation and lodgment requirements: s 66.\n- Disapplication of accelerated depreciation: s 67.\n- Capital gains transitional rules (deemed disposal and re‑acquisition at changeover): s 68.\n- Continuity of liabilities / employee continuity: ss 69, 72, 73, 85, 88.\n\nIn short: the Act is a package of technical, time‑limited rules that (1) removes certain State/Territory tax exposures for Australia Post’s pre‑commencement acts, (2) defines federal income tax and capital gains bookkeeping events at the changeover, and (3) preserves employment and certain legal continuity so the administrative transition to the new postal and telecommunications corporations is legally coherent (see the cited sections above)."},"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"The legislation remains tightly focused on its original purpose as a transitional instrument. It does not appear to have expanded beyond the specific task of managing the 1989 corporatisation of Australia Post and Telecom, with all provisions directly supporting tax transition, employment continuity, and liability preservation during the statutory changeover."},"complexity_factors":["Heavy cross-referencing to three other Acts (Telecommunications Act 1989, Australian Postal Corporation Act 1989, Australian Telecommunications Corporation Act 1989) plus the Income Tax Assessment Act 1936","Multiple defined terms ('commencing day', 'new Act', 'previous Act') that shift meaning between Part 9 (Australia Post) and Part 10 (Telecom)","Nested conditional logic in capital gains tax provisions (section 68) with multiple scenarios based on market value comparisons and timing triggers","Technical tax terminology requiring knowledge of 'indexed cost base', 'reduced cost base', 'consideration', and specific Income Tax Assessment Act subdivisions","Temporal complexity with multiple cutoff dates (commencing day, 1 July 1990, 30 June 1990, 12-month disposal windows)","Duplicative structure with near-mirror provisions for Australia Post (Part 9) and Telecom (Part 10) requiring careful tracking of which entity is being discussed","Interaction between Commonwealth and State/Territory laws regarding stamp duty exemptions"],"plain_english_summary":"This Act is a 'clean-up' law from 1989 that helped Australia transition from old government departments to new corporations for postal and telephone services.\n\n**What it does:**\n- **Smooths the transition** from the old Postal Services Act 1975 and Telecommunications Act 1975 to the new Australian Postal Corporation Act 1989 and Australian Telecommunications Corporation Act 1989.\n- **Protects Australia Post and Telecom from tax shocks** during the changeover, including:\n  - Exempting pre-existing property and transactions from stamp duty (a state tax on documents and property transfers)\n  - Delaying when Australia Post starts paying income tax (income before 1 July 1990 is tax-free)\n  - Setting special rules for valuing trading stock and capital gains tax to prevent unfair tax bills when the corporations were formed\n  - Blocking accelerated depreciation tax breaks\n- **Preserves existing employment** - staff keep their jobs under the new corporate structure as if they were newly hired under the new laws.\n- **Handles unfinished business** - existing debts to the Commonwealth and unclaimed money funds continue under the old rules until properly transferred.\n\n**Who it affects:**\n- Australia Post and Telecom (now Telstra) during their corporatisation in 1989-1990\n- Their employees, whose jobs were protected\n- The Australian Taxation Office and state revenue offices\n\n**Why it matters:**\nThis was essential housekeeping legislation that allowed Australia Post and Telecom to become government-owned corporations without triggering massive tax liabilities or disrupting services. It ensured that historical assets, liabilities, and staff arrangements carried over cleanly to the new corporate entities."}},"importantCases":[],"_links":{"self":"/api/acts/telecommunications-and-postal-services-transitional-provisions-and-consequential-amendments-act-1989","history":"/api/acts/telecommunications-and-postal-services-transitional-provisions-and-consequential-amendments-act-1989/history","analysis":"/api/acts/telecommunications-and-postal-services-transitional-provisions-and-consequential-amendments-act-1989/analysis","conflicts":"/api/acts/telecommunications-and-postal-services-transitional-provisions-and-consequential-amendments-act-1989/conflicts","importantCases":"/api/acts/telecommunications-and-postal-services-transitional-provisions-and-consequential-amendments-act-1989/important-cases","documents":"/api/acts/telecommunications-and-postal-services-transitional-provisions-and-consequential-amendments-act-1989/documents"}}