Senate

Supplementary Explanatory Memorandum

(Circulated by the authority of the Minister for Industry, Technology and Commerce, Senator the Hon John Button)

GENERAL OUTLINE

The amendment will provide relief from the substantiation requirements in respect of a particular expense item on review of an assessment in circumstances where the requirements would otherwise operate so that a deduction for the expense is denied. The relief is to be available where the Commissioner of Taxation, having regard to certain matters, is satisfied that the expense has been incurred and it would be unreasonable for the substantiation requirements to apply.