Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)A NEW TAX SYSTEM (FAMILY ASSISTANCE) (CONSEQUENTIAL AND RELATED MEASURES) BILL (No. 2) 1999
PRELIMINARY
Clause 1 of the A New Tax System (Family Assistance) (Consequential and Related Measures) Bill (No. 2) 1999 sets out how the amending Act is to be cited.
Clause 2 provides for the commencement of the amending Act and the Schedules in the amending Act. The various provisions generally start either on Royal Assent or on the commencement of other family assistance amendments, or related legislative amendments, on which the provisions in the amending Act depend or to which they are linked in some technical way. One transitional provision (inserted by item 2 of Schedule 11 ) could start as early as 1 January 2000 - this is to enable the correspondence with current customers about the transition to the new scheme to be handled in sufficient time for the commencement of the new arrangements. Clause 3 provides that each Act that is specified in a Schedule to the amending Act is amended or repealed in accordance with the applicable items in those Schedules.
Several abbreviated terms will be used widely throughout this Explanatory Memorandum in relation to this Bill. The abbreviations are:
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- the Social Security Act 1991 (the Social Security Act);
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- the A New Tax System (Family Assistance) Act 1999 , currently still a Bill before the Parliament (the Family Assistance Act);
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- the A New Tax System (Family Assistance) (Administration) Act 1999 , currently still a Bill before the Parliament (the Family Assistance Administration Act);
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- the A New Tax System (Family Assistance) (Consequential and Related Measures) Act (No. 1) 1999 , currently still a Bill before the Parliament (the First Consequential Act).
Other abbreviations used not so widely will be indicated in relevant parts of the Explanatory Memorandum.