House of Representatives

Explanatory Memorandum

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

Chapter 3 - Technical corrections

Overview

3.1 Schedule 3 to the Bill contains a number of technical amendments which correct drafting errors and do not involve changes of policy significance.

Summary of amendments

Purpose of the amendments

3.2 The amendments will remedy a number of technical deficiencies in the following Acts:

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the Income Tax Assessment Act 1936 (ITAA36);

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the Taxation Laws Amendment Act (No.1) 1998 ;

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the Taxation Laws Amendment (Private Health Insurance Incentives) Act 1997 ; and

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the Social Security Legislation Amendment (Parenting and Other Measures) Act 1997 .

Date of effect

3.3 Items 1 and 2 will commence from the date of Royal Assent. [Subclause 2(1)

3.4 Items 3 and 4 are taken to have commenced immediately after the commencement of section 2 of the Taxation Laws Amendment Act (No.1) 1998 . [Subclause 2(5)

3.5 Items 5 and 6 are taken to have commenced immediately after the commencement of item 6 of Schedule 2 to the Taxation Laws Amendment (Private Health Insurance Incentives) Act 1997 . [Subclause 2(6)

3.6 Items 7 and 8 are taken to have commenced immediately after the commencement of item 322 of Schedule 1 to the Social Security Legislation Amendment (Parenting and Other Measures) Act 1997 . [Subclause 2(7)

Background to the legislation

3.7 These amendments will correct a number of technical deficiencies that have been identified in a number of Acts.

Explanation of the amendments

3.8 Item 1 amends paragraph 160AH(b) of the ITAA36 to correct an error in the citation of the International Tax Agreements Act 1953 .

3.9 Item 2 amends paragraph 222A(1)(c) of the ITAA36 to correct an error in the citation of subparagraphs 226(1)(c)(i) and (ii).

3.10 Item 3 amends subsection 2(1) of the Taxation Laws Amendment Act (No.1) 1998 to remove an unnecessary reference to subsection 2(2) of that Act.

3.11 In the numbering of Taxation Laws Amendment Act (No.1) 1998 subsection 2(2) currently occurs twice. Item 4 will amend this Act to renumber the second subsection 2(2) as subsection 2(3).

3.12 Items 5 and 6 amend incorrect and duplicate section references in Schedule 2 to the Taxation Laws Amendment (Private Health Insurance Incentives) Act 1997 .

3.13 Items 7 and 8 amend incorrect paragraph references in Schedule 1 to the Social Security Legislation Amendment (Parenting and Other Measures) Act 1997 .