House of Representatives

Income Tax Assessment Bill 1974

Income Tax Assessment Act 1974

Income Tax (Dividends and Interest Withholding Tax) Bill 1974

Income Tax (Dividends, Interest and Royalties Withholding Tax) Act 1974

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon. Frank Crean, M.P.)
The explanatory memoranda legislative body title '(29TH PARLIAMENT) AUSTRALIA HOUSE OF REPRESENTATIVES' to 'The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES' for consistency.

Introductory Note

The first of these Bills proposes amendments to the Income Tax Assessment Act (the "Principal Act") in relation to the matters outlined below. Except that it contains additional provisions which relate to the collection of company tax by instalments (clauses 11 to 19) the Bill is identical in all material respects with an Income Tax Assessment Bill that was introduced into the House on 3 April 1974 but lapsed as a consequence of the dissolution of the Parliament soon afterwards.

The second Bill is identical with an Income Tax (Dividends and Interest Withholding Tax) Bill which lapsed in the same circumstances. It is of a purely drafting kind consequential upon the first of the matters outlined below.

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