Explanatory Notes(Amendments to be moved by the Treasurer, the Right Honourable J.B. Chifley.)
AMENDMENTS TO CLAUSE 38 OF THE BILL.
Clause 38 sets out the assessments to which the several amendments to be made by the Bill shall apply.
The amendment proposed to be made by paragraph (p) of clause 24 is complementary to that proposed by clause 17. It was accordingly intended that both these amendments should apply to assessments based on income derived during the year ending 30th June, 1947, and subsequent years. As regards clause 17, this intention will be given effect to by sub-clause (7) of clause 38. Through inadvertence, however, the complementary amendment made by paragraph (p) of clause 24 was expressed to apply to the same assessments as the other amendments included in clause 24. Thus the amendment to be made by clause 24(p) has been incorrectly expressed to apply to assessments based on income derived during the year ending 30th June, 1948, and subsequent years.
The proposed amendments to clause 38 of the Bill will ensure that the amendments made by clause 17 and paragraph (p) of clause 24 shall apply to the same assessments, viz., to assessments based on income derived during the year ending 30th June, 1947, and all subsequent years.
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