Commonwealth Numbered Acts

INCOME TAX ASSESSMENT ACT 1975 No. 80 of 1975 - SECT 5

5. (1) Section 7 of the Principal Act is repealed.

(2) The repeal effected by sub-section (1) does not take effect until Papua
New Guinea independence day.

(3) Notwithstanding the repeal effected by this section-

   (a)  the Principal Act as amended by this Act does not apply to any income
        derived before Papua New Guinea independence day by a resident of
        Papua New Guinea from sources within Papua New Guinea; and

   (b)  for the purposes of the assessment and payment of income tax on income
        derived from sources in Australia in the year of income in which
        Papua New Guinea independence day occurs or in a preceding year of
        income, a taxpayer who is resident in Papua New Guinea shall be deemed
        to be a resident of Australia.