Supplementary Explanatory Memorandum
Chapter 2 - Amendment to the Income Tax Rates Amendment (Research and Development) Bill 2010
Amendment 1 - deferral of start date
2.1 Amendment 1 makes a minor amendment to Schedule 1, item 4 of the Bill to defer the start date by twelve months. The effect is that, consistent with similar amendments to be moved to the Tax Laws Amendment (Research and Development) Bill 2010, the amendments to the Income Tax Rates Act 1986 will apply to income years commencing on or after 1 July 2011.
2.2 The amendments made to that Act by the Income Tax Rates Amendment (Research and Development) Bill 2010 are discussed in paragraph 3.132 of the explanatory memorandum for that Bill.
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