Supplementary Explanatory Memorandum
(circulated by authority of the Minister representing the Treasurer, Senator the Hon. Dame Margaret Guilfoyle, D.B.E.)Notes on Clauses
Clause 2: Commencement
By sub-clause (1) of this clause, the amending Act, other than clause 3, is to come into operation on the day on which it receives the Royal Assent. But for this clause the amending Act would, by reason of sub-section 5(1A) of the Acts Interpretation Act 1901, come into operation on the twenty- eighth day after the date of Assent.
Sub-clause (2) specifies that clause 3 of the amending Act, which is related to the amendments proposed in the Income Tax Assessment Amendment Bill (No. 2) 1982, will come into operation immediately after the Royal Assent is given to that Bill. This will ensure that the related amendments to the secrecy provisions of the income tax law proposed in this Bill and in the (No. 2) Bill will operate from the same time.
Clause 3: Officers to observe secrecy
This clause, which will amend paragraph 16(4A)(b) of the Income Tax Assessment Act (as proposed to be inserted by the Income Tax Assessment Amendment Bill (No. 2) 1982), will confine the authority that is to be given to specified Royal Commissions to divulge taxation information to the Attorney- General to those cases where, in the opinion of the Royal Commission, the information indicates that an offence may have been committed against a Commonwealth Act, where such an offence carries a penalty of 6 months or more imprisonment, whether in substitution for or in addition to any monetary penalty that may attach to such an offence.
Clause 4: Exemptions
This clause is in identical terms, apart from having been renumbered, to clause 3 of the Bill as introduced into the House of Representatives which is explained in the memorandum issued previously.