Senate

Supplementary Explanatory Memorandum

(Circulated by the authority of the Treasurer the Hon Ralph Willis, M.P.)

Chapter 5 Request for amendment Payments of instalments by companies and certain trustees

5.1 Clause 48 of the Bill provides that Division 6 of that Bill will apply from the 1994-95 year of income [Request for amendment 2] .

5.2 As mentioned at paragraph 8.6 of the Explanatory Memorandum to the Bill, the grouping rules, contained in Division 6, should only apply from the 1995-96 year of income. This amendment to the Bill ensures that the grouping rules will only apply from the 1995-96 years of income.