Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)Chapter 10 - Technical amendments
Outline of chapter
10.1 Schedule 11 to this bill makes a number of technical amendments to the ITAA 1936, the ITAA 1997 and other tax-related legislation.
Detailed explanation of new law
10.2 A number of minor technical amendments are made to the:
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- Income Tax Assessment Act 1936;
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- Income Tax Assessment Act 1997;
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- Income Tax Rates Act 1986;
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- Superannuation Guarantee (Administration) Act 1992;
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- Superannuation Contributions Tax (Assessment and Collection) Act 1997;
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- Taxation Administration Act 1953;
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- Taxation (Interest on Overpayments and Early Payments) Act 1983; and
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- Income Tax (Transitional Provisions) Act 1997.
[Schedule 11, items 1 to 164]
10.3 The amendments, which are self-explanatory, mainly:
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- repeal redundant provisions;
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- correct terminology;
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- correct incorrect section references; and
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- correct cross references.
Application and transitional provisions
10.4 These technical amendments have various dates of effect, which are detailed in clause 2 of this bill. The amendments are of a minor or machinery of government nature and do not substantially alter existing arrangements. They do not affect the rights or liabilities of taxpayers.
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