House of Representatives

Taxation Laws Amendment Bill (No. 7) 2003

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)

Chapter 10 - Technical amendments

Outline of chapter

10.1 Schedule 11 to this bill makes a number of technical amendments to the ITAA 1936, the ITAA 1997 and other tax-related legislation.

Detailed explanation of new law

10.2 A number of minor technical amendments are made to the:

Income Tax Assessment Act 1936;
Income Tax Assessment Act 1997;
Income Tax Rates Act 1986;
Superannuation Guarantee (Administration) Act 1992;
Superannuation Contributions Tax (Assessment and Collection) Act 1997;
Taxation Administration Act 1953;
Taxation (Interest on Overpayments and Early Payments) Act 1983; and
Income Tax (Transitional Provisions) Act 1997.

[Schedule 11, items 1 to 164]

10.3 The amendments, which are self-explanatory, mainly:

repeal redundant provisions;
correct terminology;
correct incorrect section references; and
correct cross references.

Application and transitional provisions

10.4 These technical amendments have various dates of effect, which are detailed in clause 2 of this bill. The amendments are of a minor or machinery of government nature and do not substantially alter existing arrangements. They do not affect the rights or liabilities of taxpayers.

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