Senate

Revised Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)

Chapter 6 - Technical corrections

Outline of chapter

6.1 Schedule 6 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

6.2 A number of minor technical amendments are made to the:

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A New Tax System (Family Assistance and Related Measures) Act 2000;

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A New Tax System (Goods and Services Tax) Act 1999;

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A New Tax System (Pay As You Go) Act 1999;

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A New Tax System (Tax Administration) Act (No. 2) 2000;

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ITAA 1936;

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ITAA 1997;

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Superannuation Legislation Amendment Act (No. 3) 1999;

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Taxation Administration Act 1953;

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Taxation Laws Amendment Act (No. 3) 1999;

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Taxation Laws Amendment Act (No. 4) 1997;

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Taxation Laws Amendment Act (No. 4) 2000;

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Taxation Laws Amendment Act (No. 7) 2000; and

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Tax Law Improvement Act (No. 1) 1998.

[Schedule 6, items 1 to 45]

6.3 The amendments, which are self-explanatory, primarily:

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correct incorrect Division or section numbering or lettering;

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correct grammatical errors;

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correct incorrect cross-references; and

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repeal redundant provisions.

Application and transitional provisions

6.4 The amendments have various dates of effect which are detailed in section 2 of this bill.