House of Representatives

Supplementary Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon. John Howard, M.P.)

Introductory Note

The main purpose of this supplementary memorandum, which is to be read in conjunction with the Explanatory Memorandum previously circulated, is to explain amendments that are proposed by the Government to be made to the Income Tax Assessment Amendment Bill (No. 2) 1978 as introduced into the House of Representatives. The Bill is now to be cited as the Income Tax Assessment Amendment Bill (No. 4) 1978, because an amending Act relating to Budget proposals and a further Bill to amend the Income Tax Assessment Act have overtaken it in numerical order.

The amendments to the original Bill are of a technical nature which, for the most part, were foreshadowed either on page 58 of the original Explanatory Memorandum or by way of an announcement by the Treasurer on 28 July 1978.

For ease of reference, explanations of the Government amendments are provided in a form that assumes that the Bill as originally introduced will be altered by adoption of these amendments. Thus, where the amendments are such that a varied explanation of the particular provision is required, a substitute explanation is provided.