Income Tax Amendment Regulations 2002 (No. 4)

(111 of 2002)

5 June 2002

Made under Income Tax Assessment Act 1936

1   Name of Regulations

These Regulations are theIncome Tax Amendment Regulations 2002 (No. 4).

2   Commencement

These Regulations commence, or are taken to have commenced, as follows:

(a) on 1 July 2000 regulations 1 to 3 and Schedule 1;

(b) on gazettal Schedule 2.

NoteItem 3 of Schedule 2 to the Taxation Laws Amendment Act (No. 5) 2001 states:

Subsection 48 (2) of the Acts Interpretation Act 1901 does not apply, and is taken never to have applied, to a regulation, or a provision of regulations, amending Schedule 14 to the Income Tax Regulations, so as to omit items 501, 502 and 509 of that Schedule, with effect on and from 1 July 2000.

3   Amendment of Income Tax Regulations 1936

Schedules 1 and 2 amend the Income Tax Regulations 1936.

Schedule 1   Amendment taken to have commenced on 1 July 2000

[1]   Schedule 14, items 501 and 502

omit

Schedule 2   Amendments commencing on gazettal

[1]   Regulation 177

substitute

177 Constitutionally protected funds

For the definition of constitutionally protected fund in section 267 of the Act, a fund of the kind to which, in the absence of section 271A of the Act, Part IX of the Act would apply, established by:

(a) a State Act mentioned in Schedule 14; or

(b) a specified provision of a State Act mentioned in Schedule 14;

is a constitutionally protected fund.

[2]   Schedule 14, after item 404

insert

[3]   Schedule 14, items 506, 507 and 508

substitute

[4]   Schedule 14, item 509

omit