Explanatory Memorandum Part B(Circulated by authority of the Minister Assisting the Treasurer, The Hon. Chris Hurford MP)
Part A of this Explanatory Memorandum, which contains an outline and broad explanation of each of the measures in the Taxation Laws Amendment Bill 1984, was circulated on introduction of the Bill into the House of Representatives.
This Part - Part B - contains a clause by clause explanation of the Bill.
Because the amendments of the Income Tax Assessment Act 1936 and the Taxation Administration Act 1953 by Parts VII and XXIV of the Bill (by clauses 91 to 166 and 291 to 317 respectively) are the most significant changes to the taxation laws being made by this Bill, explanations of those changes appear first in this Memorandum.
Explanations of the amendments of the other taxation laws and non-taxation laws then follow in sequential order.
Where amendments of those other taxation laws are to the same effect as amendments of the income tax law, explanations are provided by reference to explanations of the appropriate income tax amending clause to avoid repetition.