Commonwealth Consolidated Acts

INCOME TAX (CONSEQUENTIAL AMENDMENTS) ACT 1997 - SCHEDULE 2

1 Section 14ZAAA (paragraph (a) of the definition of income tax law)

After " Income Tax Assessment Act 1936 ", insert "or of the Income Tax Assessment Act 1997 ".

2 Section 14ZAAA (paragraph (b) of the definition of income tax law)

Omit "that Act", substitute "the Income Tax Assessment Act 1936 ".

3 After section 14ZAAL

Insert in Part IVAAA:

14ZAAM Effect on public ruling if tax law re-enacted

If:

(a)

the Commissioner makes a public ruling about a tax law (the old law ); and

(b)

that tax law is re-enacted or remade (with or without modifications, and whether or not the old law is repealed);

the ruling is taken also to be a public ruling about the tax law as re-enacted or remade (the new law ), but only so far as the new law expresses the same ideas as the old law.

Note: Ideas in tax laws are not necessarily different just because different forms of words are used. See:

section 15AC of the Acts Interpretation Act 1901 ; and
section 1-3 of the Income Tax Assessment Act 1997 .

4 After section 14ZAX

Insert:

14ZAXA Effect on private ruling if tax law re-enacted

If:

(a)

the Commissioner makes a private ruling about a tax law (the old law ); and

(b)

that tax law is re-enacted or remade (with or without modifications, and whether or not the old law is repealed);

the ruling is taken also to be a private ruling about the tax law as re-enacted or remade (the new law ), but only so far as the new law expresses the same ideas as the old law.

Note: Ideas in tax laws are not necessarily different just because different forms of words are used. See:

section 15AC of the Acts Interpretation Act 1901 ; and
section 1-3 of the Income Tax Assessment Act 1997 .

Part 2—Application and transitional
5 Application of section 14ZAAM

Section 14ZAAM applies to the re-enactment or remaking of a tax law if, and only if, the re-enacted or remade tax law commences at or after the commencement of that section. It applies to a public ruling even if the ruling was made before that commencement.

6 Application of section 14ZAXA

Section 14ZAXA applies to the re-enactment or remaking of a tax law if, and only if, the re-enacted or remade tax law commences at or after the commencement of that section. It applies to a private ruling even if the ruling was made before that commencement.