INCOME TAX (CONSEQUENTIAL AMENDMENTS) ACT 1997 - SCHEDULE 3

Commonwealth Consolidated Acts

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INCOME TAX (CONSEQUENTIAL AMENDMENTS) ACT 1997 - SCHEDULE 3

- Amendments of other Acts

Administrative Decisions (Judicial Review) Act 1977

1 Paragraph (e) of Schedule 1

Under " Income Tax Assessment Act 1936 ", insert " Income Tax Assessment Act 1997 ".

AUSSAT Repeal Act 1991

2 After subsection 8(2)

Insert:

(2A): AUSSAT cannot deduct from its assessable income for the 1997-98 income year or a later income year, a tax loss (or a part of a tax loss) incurred in an income year ending at or before the transition.
(2B): This section has effect despite anything in the Income Tax Assessment Act 1997 , in particular, Division 36 of that Act.

3 Subsection 8(3)

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

Australian Industry Development Corporation Act 1970

4 Section 29A (definition of income tax)

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

5 Paragraph 29Z(3)(d)

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

6 Section 29ZA

After "that Act)", insert "and the Income Tax Assessment Act 1997 ".

7 Subsection 29ZB(1)

After " Income Tax Assessment Act 1936 ", insert "or the Income Tax Assessment Act 1997 (as appropriate)".

8 Subsection 29ZB(1)

Omit "that Act", substitute "either of those Acts".

9 Subsection 29ZB(2)

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

10 Subsection 29ZB(2)

Omit "that Act", substitute "either of those Acts".

11 Subsection 29ZB(3)

After " Income Tax Assessment Act 1936 ", insert "or the Income Tax Assessment Act 1997 (as appropriate)".

Bank Integration Act 1991

12 Subsection 21(3) (paragraph (a) of the definition of tax)

Repeal the paragraph, substitute:

(a): any tax assessed under the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997 ; or

13 Paragraphs 22(2)(a) and (b)

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

Note: The heading to section 22 is replaced by the heading "Application of the Income Tax Assessment Acts".

14 Subsections 22(3) and (4)

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

15 Paragraph 22(4)(c)

Before "losses", insert "tax".

16 Paragraph 22(4)(c)

Omit "section 46 of that Act", substitute "section 46 of the Income Tax Assessment Act 1936 ".

17 Subsection 22(7)

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

Bounty and Capitalisation Grants (Textile Yarns) Act 1981

18 Paragraph 3(3)(h)

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

Child Support (Assessment) Act 1989

19 Section 5 (definition of year of income)

Repeal the definition, substitute:

"year of income", in relation to a person, means:

(a): a year of income (within the meaning of the Income Tax Assessment Act 1936 ); or
(b): an income year (within the meaning of the Income Tax Assessment Act 1997 ).

20 Sections 38, 45 and 55

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

21 Subsection 56(1)

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

22 Subsection 56(1)

Omit "that Act", substitute "either of those Acts".

23 Subsection 56(2)

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

24 Subsection 56(2)

Omit "that Act", substitute "either of those Acts".

25 Subsection 56(3)

After "that Act" (first occurring), insert "or the Income Tax Assessment Act 1997 ".

26 Subsection 56(3)

Omit "that Act" (second and third occurring), substitute "either of those Acts".

27 Paragraph 56(4)(b)

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

28 Paragraph 56(5)(a)

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

29 Paragraph 56(5)(a)

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

30 Subsection 57(1)

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

31 Subsection 57(1)

Omit "that Act" (wherever occurring), substitute "either of those Acts".

32 Paragraph 57(2)(a)

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

33 Paragraph 57(2)(a)

Omit "that Act", substitute "either of those Acts".

34 Subsection 57(3)

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

35 Subsection 57(3)

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

36 Paragraph 57(3)(a)

Omit "that Act" (wherever occurring), substitute "either of those Acts".

37 Subsection 57(4)

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

38 Subsection 57(4)

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

39 Paragraph 57(4)(a)

Omit "that Act" (wherever occurring), substitute "the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997 ".

40 Subsection 57(5)

Omit "that Act", substitute "the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997 ".

41 Paragraph 57(8)(b)

Omit "that Act", substitute "the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997 ".

42 Paragraph 57(9)(a)

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

43 Paragraph 57(9)(a)

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

44 Paragraphs 58(1)(a) and (1A)(a)

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

45 Paragraph 58(1A)(b)

Omit "that Act", substitute "the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997 ".

46 Paragraphs 60(1)(a) and 64(1)(b)

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

47 Paragraph 64(1)(b)

Omit "that Act", substitute "either of those Acts".

48 Paragraphs 64A(1)(b) and (4)(a)

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

49 Paragraph 64A(4)(a)

Omit "that Act", substitute "either of those Acts".

50 Paragraph 153(e)

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

51 Paragraph 153(e)

Omit "that Act" (first occurring), substitute "either of those Acts".

52 Paragraph 153(e)

Omit "that Act" (last occurring), substitute "the Income Tax Assessment Act 1936 ".

Commonwealth Serum Laboratories Act 1961

54 Section 34

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

Consular Privileges and Immunities Act 1972

55 Subsection 5(4)

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

Crimes (Taxation Offences) Act 1980

56 Section 3 (definition of the Income Tax Assessment Act)

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

Data-matching Program (Assistance and Tax) Act 1990

57 Subsection 3(1) (definition of Tax Act)

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

Development Allowance Authority Act 1992

58 Paragraph 22(c)

Omit "Tax Act", substitute " Income Tax Assessment Act 1936 and section 26-55 of the Income Tax Assessment Act 1997 ".

59 Paragraph 22(d)

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

60 Paragraph 22(e)

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

Diplomatic Privileges and Immunities Act 1967

61 Subsection 7(4)

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

Fringe Benefits Tax Assessment Act 1986

62 Subparagraph 19(1)(b)(i)

Omit "have been allowable to the recipient under that Act", substitute "and Divisions 28 and 900 of the Income Tax Assessment Act 1997 , have been allowable to the recipient under either of those Acts".

63 Subparagraph 19(1)(b)(ii)

Omit "that Act" (wherever occurring), substitute "the Income Tax Assessment Act 1936 ".

64 Subparagraph 19(1)(ba)(ii)

Omit "and G of Division 3 of Part III, of the Income Tax Assessment Act 1936 ,", substitute ", GA and G of Division 3 of Part III, of the Income Tax Assessment Act 1936 , and Divisions 28 and 900 of the Income Tax Assessment Act 1997 ,".

65 Subparagraph 19(1)(ba)(ii)

Omit "under that Act", substitute "under either of those Acts".

66 Sub-subparagraph 19(1)(ba)(ii)(B)

Omit "that Act" (wherever occurring), substitute "the Income Tax Assessment Act 1936 ".

67 Paragraph 19(2)(b)

Omit "car expense within the meaning of Subdivision F of Division 3 of Part III of the Income Tax Assessment Act 1936 ", substitute "Division 28 car expense".

68 Paragraph 22(a)

Omit "car expense, as defined by section 11-2 of Schedule 2A to the Income Tax Assessment Act 1936 ,", substitute "Division 28 car expense".

69 Subparagraph 24(1)(b)(iii)

70 Subparagraph 24(1)(b)(iv)

Omit "that Act" (wherever occurring), substitute "the Income Tax Assessment Act 1936 ".

71 Subparagraph 24(1)(ba)(ii)

72 Subparagraph 24(1)(ba)(ii)

Omit "under that Act", substitute "under either of those Acts".

73 Sub-subparagraph 24(1)(ba)(ii)(B)

Omit "that Act" (wherever occurring), substitute "the Income Tax Assessment Act 1936 ".

74 Paragraph 34(1)(b)

75 Subparagraph 34(1)(ba)(ii)

Omit "Subdivision F of Division 3 of Part III, of the Income Tax Assessment Act 1936 , have been allowable as a once-only deduction to the recipient under that Act", substitute "Subdivisions F and GA of Division 3 of Part III, of the Income Tax Assessment Act 1936 , and Divisions 28 and 900 of the Income Tax Assessment Act 1997 , have been allowable as a once-only deduction to the recipient under either of those Acts".

76 Paragraph 37(b)

Omit "have been allowable to the recipient under section 51 of that Act", substitute "and Divisions 28 and 900 of the Income Tax Assessment Act 1997 , have been allowable to the recipient under section 51 of the Income Tax Assessment Act 1936 , or section 8-1 of the Income Tax Assessment Act 1997 ,".

77 Subparagraph 37(c)(ii)

Omit "Subdivision F of Division 3 of Part III, of the Income Tax Assessment Act 1936 , have been allowable to the recipient under section 51 of that Act", substitute "Subdivisions F and GA of Division 3 of Part III, of the Income Tax Assessment Act 1936 , and Divisions 28 and 900 of the Income Tax Assessment Act 1997 , have been allowable to the recipient under section 51 of the Income Tax Assessment Act 1936 , or section 8-1 of the Income Tax Assessment Act 1997 ,".

78 Subparagraph 44(1)(b)(i)

79 Subparagraph 44(1)(b)(ii)

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

80 Subparagraph 44(1)(ba)(ii)

After " 1936 ,", insert "and Divisions 28 and 900 of the Income Tax Assessment Act 1997 ,".

81 Subparagraph 44(1)(ba)(ii)

Omit "under that Act", substitute "under either of those Acts".

82 Sub-subparagraph 44(1)(ba)(ii)(B)

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

83 Subparagraph 52(1)(b)(i)

84 Subparagraph 52(1)(b)(ii)

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

85 Subparagraph 52(1)(ba)(ii)

After " 1936 ,", insert "and Divisions 28 and 900 of the Income Tax Assessment Act 1997 ".

86 Subparagraph 52(1)(ba)(ii)

Omit "under that Act in respect of so much of that consideration as was taken into account for the purposes of section 48, 49, 50 or 51", substitute "under either of those Acts in respect of so much of that consideration as was taken into account for the purposes of section 48, 49, 50 or 51 of the Income Tax Assessment Act 1936 , or section 4-15 or 8-1 of the Income Tax Assessment Act 1997 ,".

87 Sub-subparagraph 52(1)(ba)(ii)(B)

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

89 Subparagraphs 58A(c)(i), 58F(c)(i) and 58M(2)(c)(i)

Omit "car expense, as defined by section 11-2 of Schedule 2A to the Income Tax Assessment Act 1936 ,", substitute "Division 28 car expense".

90 Sub-subparagraph 60A(2)(b)(i)(A)

Omit "car expense, as defined by section 11-2 of Schedule 2A to the Income Tax Assessment Act 1936 ,", substitute "Division 28 car expense".

91 Subparagraphs 61(1)(c)(i) and 61A(2)(a)(i)

Omit "car expense, as defined by section 11-2 of Schedule 2A to the Income Tax Assessment Act 1936 ,", substitute "Division 28 car expense".

92 Paragraphs 61B(b), 61E(b) and 61F(b)

Omit "car expense, as defined by section 11-2 of Schedule 2A to the Income Tax Assessment Act 1936 ,", substitute "Division 28 car expense".

93 Subsection 136(1) (definition of car expense payment benefit)

Omit "car expense as defined by section 11-2 of Schedule 2A to the Income Tax Assessment Act 1936 ", substitute "Division 28 car expense".

94 Subsection 136(1) (paragraph (b) of the definition of car loan benefit)

Omit "car expense as defined by section 11-2 of Schedule 2A to the Income Tax Assessment Act 1936 ", substitute "Division 28 car expense".

95 Subsection 136(1) (definitions of car property benefit and car residual benefit)

Omit "car expense as defined by section 11-2 of Schedule 2A to the Income Tax Assessment Act 1936 ", substitute "Division 28 car expense".

96 Subsection 136(1) (definition of deductible expenses)

Omit "would be, allowable to the employee under section 51 of that Act", substitute "and Divisions 28 and 900 of the Income Tax Assessment Act 1997 , would be, allowable to the employee under section 51 of the Income Tax Assessment Act 1936 or section 8-1 of the Income Tax Assessment Act 1997 ".

97 Subsection 136(1) (paragraph (b) of the definition of non-deductible entertainment expenditure)

After "that Act", insert "or section 8-1 of the Income Tax Assessment Act 1997 ".

98 Subsection 136(1) (definitions of basic car rate, documentary evidence and year of income)

Repeal the definitions, substitute:

"basic car rate", in relation to a year of tax ending on 31 March in a year, means the rate prescribed for the purposes of:

(a): if the year of tax ended on or after 31 March 1998—section 28-25 of the Income Tax Assessment Act 1997 ; or
(b): if the year of tax ended on 31 March 1995, 31 March 1996 or 31 March 1997—section 3-2 of Schedule 2A to the Income Tax Assessment Act 1936 ; or
(c): if the year of tax ended before or on 31 March 1994—paragraph 82KX(1)(a) of the Income Tax Assessment Act 1936 ;

in relation to the year of income ending on 30 June in that year.

"documentary evidence", in relation to an expense incurred by a person, means:

(a): if the expense was incurred on or after 1 July 1997—a document that would constitute written evidence of the expense obtained in a way described in Subdivision 900-E of the Income Tax Assessment Act 1997 if the expense were a work expense, and Division 900 of that Act applied to the person; or
(b): if the expense was incurred on or after 1 July 1994 and before 1 July 1997—a document that would constitute written evidence of the expense obtained in a way described in Division 5 of Schedule 2B to the Income Tax Assessment Act 1936 if the expense were a work expense, and that Schedule applied to the person; or
(c): if the expense was incurred before 1 July 1994—a document that would constitute documentary evidence of the expense within the meaning of subsection 82KU(1) of the Income Tax Assessment Act 1936 (including that subsection as applied by subsections 82KU(3) and (4) of that Act) or subsection 82KU(5) of that Act if the person were a taxpayer within the meanin g of that Act.

"year of income" means:

(a): a year of income (within the meaning of the Income Tax Assessment Act 1936 ); or
(b): an income year (within the meaning of the Income Tax Assessment Act 1997 ).

99 Subsection 136(1)

Insert:

Division 28 car expense means a car expense as defined in section 28-13 of the Income Tax Assessment Act 1997 , but does not include a car expense covered by section 28-165 of that Act.

Higher Education Funding Act 1988

100 Subsection 106H(1) (paragraph (b) of the definition of HEC repayment income of a person)

Omit "or any subsequent year of income".

101 Subsection 106H(1) (at the end of the definition of HEC repayment income of a person)

Add:

(c): in relation to the 1997-98 income year or any later income year—the sum of:

(i): the person's taxable income for that income year; and
(ii): if the person has deducted under section 8-1 of the Income Tax Assessment Act 1997 for that income year an amount for interest on money the person borrowed to finance rental property investments, and the total of that amount and any other amounts the person has deducted under that Act or the Income Tax Assessment Act 1936 (otherwise than for interest on money borrowed) in respect of the rental property exceeds the rental income of the person—the amount of the excess.

Insurance (Agents and Brokers) Act 1984

102 Section 9 (paragraph (b) of the definition of accounting period)

After " Income Tax Assessment Act 1936 ", insert "or as an income year for the purposes of the Income Tax Assessment Act 1997 ".

International Tax Agreements Act 1953

103 Section 3 (definition of the Assessment Act)

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

Military Superannuation and Benefits Act 1991

104 Section 24

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

Parliamentary Contributory Superannuation Act 1948

105 Subsection 21B(1) (definition of assessable income)

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

106 Subsection 21B(1) (paragraph (c) of the definition of hypothetical taxpayer)

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

107 Subsection 21B(1) (paragraphs (d) and (e) of the definition of hypothetical taxpayer)

Omit "that Act", substitute "either of those Acts".

108 Subsection 21B(1) (definition of taxable income)

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

109 Subsection 21B(1) (definition of year of income)

Repeal the definition, substitute:

"year of income" means:

(a): a year of income (within the meaning of the Income Tax Assessment Act 1936 ); or
(b): an income year (within the meaning of the Income Tax Assessment Act 1997 );

as appropriate.

Petroleum Resource Rent Tax Assessment Act 1987

110 Paragraph 44(h)

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

Pooled Development Funds Act 1992

111 Paragraph 14(1)(l)

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

Snowy Mountains Engineering Corporation Act 1970

112 Section 39Q

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

Snowy Mountains Engineering Corporation Limited Sale Act 1993

113 Subsection 37(2)

Omit "This section", substitute "Subsection (1)".

114 Subsection 37(3)

Omit "this section", substitute "subsection (1)".

115 After subsection 37(3)

Insert:

(4): SMEC cannot deduct in the 1997-98 income year or a later income year a tax loss incurred in an income year ending before the income year in which the sale day occurs.
(5): This section has effect despite anything and, in particular, Division 36 and Subdivision 195-A of that Act.
(6): Unless the contrary intention appears, an expression has the same meaning in subsection (4) as in the Income Tax Assessment Act 1997 .

Social Security Act 1991

116 Subsection 23(1) (definition of Income Tax Assessment Act)

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

Stevedoring Industry Charge Assessment Act 1947

119 Before paragraph 27(3D)(a)

Insert:

(aa): tax assessed under the Income Tax Assessment Act 1997 ;

Student and Youth Assistance Act 1973

120 Paragraph 44A(2)(c)

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

123 Clause F9 of Schedule 1

Omit "subsection 6(1) of the Income Tax Assessment Act", substitute "section 4-15 of the Income Tax Assessment Act 1997 ".

Superannuation Act 1976

124 Subsections 42(5) and (5A)

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

125 Sections 155C, 242 and 250

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

Superannuation Act 1990

126 Subsection 26(1)

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

127 Sections 33F and 49

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

Superannuation Industry (Supervision) Act 1993

128 Section 10 (definition of Income Tax Assessment Act)

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

Taxation (Interest on Overpayments and Early Payments) Act 1983

129 Section 3 (definition of Tax Act)

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

Taxation (Unpaid Company Tax) Assessment Act 1982

130 Section 3 (definition of Assessment Act)

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

Telecommunications Act 1991

131 Subsection 87(1)

Omit " Income Tax Assessment Act 1936 ", substitute " Income Tax Assessment Act 1997 ".

Trust Recoupment Tax Assessment Act 1985

132 Section 3 (definition of Assessment Act)

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

Veterans' Entitlements Act 1986

133 Subsection 5Q(1) (definition of Income Tax Assessment Act)

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

134 Subsection 5Q(1) (definition of tax year)

Repeal the definition, substitute:

"tax year" means:

(a): a year of income (within the meaning of the Income Tax Assessment Act 1936 ); or
(b): an income year (within the meaning of the Income Tax Assessment Act 1997 );

137 Subparagraph 128A(4)(a)(i)

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

Wool International Act 1993

138 Section 78

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

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