House of Representatives

Income Tax Assessment Bill 1943

Income Tax Assessment Act 1943

Explanatory Memorandum

(Circulated by the Treasurer, the Honourable J. B. Chifley.)

Ed Note.

The original document included both the explanatory notes and the text of the related legislation. In the electronic copy, only the explanatory notes and headings of the related legislation,, have been retained.

CLAUSE 27.-APPLICATION OF AMENDMENTS.

This clause is being amended as a consequence of the inclusion in the Bill of new clause 8A. The new clause is being made to apply to assessments for the financial year 1942-1943 and all subsequent years.

Clause 11 of the Bill, which amends the Private Company Division of the Principal Act, is very closely related to clause 12 which makes a similar amendment to a later section of the same Division. Clause 12 is being made to apply to assessments for the financial year 1942-1943 by the Bill and accordingly clause 11 is, by the amendment, being given a similar application.

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