Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon. P.J. Keating, M.P.)FOREWORD
This Bill contains amendments of a number of taxation and other laws.
The amendments of the Income Tax Assessment Act 1936 and the Taxation Administration Act 1953 by Parts X and XXVII, respectively, are however the most significant. Accordingly, the detailed explanations of those amendments appear immediately after the clause notes on Part I (Preliminary).
The clause notes on the various Parts of the Bill are arranged in the following order -
| . Part I | - Preliminary | pages 15 to 16 |
| . Part X | - Amendments of the Income Tax Assessment Act 1936 | pages 16 to 32 |
| . Part XXVII | - Amendments of the Taxation Administration Act 1953 | Pages 32 to 45 |
| . Part II | - Amendments of the Administrative Appeals Tribunal Act 1975 | page 46 |
| . Part III | - Amendments of the Australian Capital Territory Taxation (Administration) Act 1969 | pages 46 to 52 |
| . Part IV | - Amendments of the Bank Account Debits Tax Administration Act 1982 | pages 52 to 56 |
| . Part V | - Amendments of the Crimes (Taxation Offences) Act 1980 | pages 56 to 57 |
| . Part VI | - Amendments of the Estate Duty Assessment Act 1914 | pages 57 to 60 |
| . Part VII | - Amendments of the Fringe Benefits Tax Assessment Act 1986 | pages 61 to 66 |
| . Part VIII | - Amendments of the Fringe Benefits Tax (Application to the Commonwealth) Act 1986 | page 66 |
| . Part IX | - Amendments of the Gift Duty Assessment Act 1941 | pages 67 to 69 |
| . Part XI | - Amendments of the Loan (Drought Bonds) Act 1969 | pages 69 to 71 |
| . Part XII | - Amendments of the Management and Investment Companies Act 1983 | pages 71 to 72 |
| . Part XIII | - Amendments of the Pay-roll Tax Assessment Act 1941 | pages 72 to 76 |
| . Part XIV | - Amendments of the Pay-roll Tax (Territories) Assessment Act 1971 | pages 76 to 79 |
| . Part XV | - Amendments of the Sales Tax Assessment (No. 1) Act 1930 | pages 80 to 95 |
| . Part XVI to XXV | - Amendments of the Sales Tax Assessment Acts No. 2 to 11 respectively | pages 95 to 97 |
| . Part XXVI | - Amendments of the Sales Tax Procedure Act 1934 | pages 97 to 98 |
| . Part XXVIII | - Amendments of the Taxation (Interest on Overpayments) Act 1983 | pages 99 to 100 |
| . Part XXIX | - Amendments of the Taxation (Unpaid Company Tax) Assessment Act 1982 | pages 100 to 101 |
| . Part XXX | - Amendments of the Wool Tax (Administration) Act 1964 | pages 101 to 104 |
| . Part XXXI | - Transitional and Repeals | pages 104 to 113 |
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