Taxation Laws Amendment Act 1993 (17 of 1993)

Part 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 10   Transitional provisions relating to repealed section 55 of the Principal Act

40   Transitional-repealed section 55 of the Principal Act

 

(1) In this section:
        

"repealed section 55" means the repealed section 55 of the Principal Act:

(a) as in force before its repeal by section 7 of the Taxation Laws Amendment Act (No. 2) 1992; or

(b) as it continues to apply in spite of its repeal by section 7 of the Taxation Laws Amendment Act (No. 2) 1992.

      

(2) Repealed section 55 has, and is taken always to have had, effect as if "below" were omitted from paragraph (5)(b) and "not" were substituted save in respect of returns of income lodged before 26 May 1993 and for which the taxpayer has not subsequently sought any amendment of their assessment in this respect.