INCOME TAX ASSESSMENT AMENDMENT ACT (NO. 3) 1983 NO. 49, 1983 INCOME TAX ASSESSMENT AMENDMENT ACT (NO. 3) 1983 NO. 49, 1983 - TABLE OF PROVISIONS 1. Short title. 2. Commencement 3. Interpretation 4. Rebatable interest 5. Rebate of tax 6. 7. Reduction of rebate limit in cases of co-ownership 8. Amendment of assessments Income Tax Assessment Amendment Act (No. 3) 1983 No. 49 of 1983 - SECT 1 Short title. An Act to amend the law relating to income tax (Assented to 21 September 1983) Short title, &c. 1. (1) This Act may be cited as the Income Tax Assessment Amendment Act (No. 3) 1983. (2) The Income Tax Assessment Act 1936*1* is in this Act referred to as the Principal Act. Income Tax Assessment Amendment Act (No. 3) 1983 No. 49 of 1983 - SECT 2 Commencement 2. This Act shall come into operation on the day on which it receives the Royal Assent. Income Tax Assessment Amendment Act (No. 3) 1983 No. 49 of 1983 - SECT 3 Interpretation 3. Section 159ZA of the Principal Act is amended by inserting after the definition of ''rebatable dwelling'' in sub-section (1) the following definition: '' 'relevant combined taxable income', in relation to a taxpayer, means- (a) where neither paragraph (b) nor paragraph (c) applies-the taxable income of the taxpayer of the year of income that commenced on 1 July 1982; (b) where the first occupation date of the taxpayer is on or before 1 October 1983 and the taxpayer had a spouse on 1 October 1983-the sum of the taxable income of the taxpayer of the year of income that commenced on 1 July 1982 and the taxable income of that year of income of that spouse of the taxpayer; and (c) where the first occupation date of the taxpayer is after 1 October 1983 and the taxpayer had a spouse on that first occupation date-the sum of the taxable income of the taxpayer of the year of income that commenced on 1 July 1982 and the taxable income of that year of income of that spouse of the taxpayer;''. Income Tax Assessment Amendment Act (No. 3) 1983 No. 49 of 1983 - SECT 4 Rebatable interest 4. Section 159ZJ of the Principal Act is amended- (a) by omitting from paragraph (2) (c) ''1 July 1985'' and substituting ''1 October 1983''; and (b) by inserting after sub-section (2) the following sub-sections: ''(2A) Subject to sub-section (2B), where- (a) before 1 October 1983, a taxpayer, or a taxpayer and another person or other persons- (i) entered into a contract for the purchase of; (ii) entered into a contract for the construction by another person of; or (iii) commenced the construction of, a dwelling; and (b) the first occupation date of the taxpayer is on or after 1 October 1983 and was ascertained by reference to that dwelling, sub-section (2) applies in relation to the taxpayer as if the reference in paragraph (2) (c) to 1 October 1983 were a reference to 1 July 1985. ''(2B) Where, at any time, a taxpayer receives a payment in respect of a dwelling under the First Home Owners Act 1983, sub-section (2A) does not apply, and shall be deemed never to have applied, in relation to the taxpayer.''. Income Tax Assessment Amendment Act (No. 3) 1983 No. 49 of 1983 - SECT 5 Rebate of tax 5. Section 159ZK of the Principal Act is amended by inserting in sub-section (1) ''159ZKA,'' before ''159ZL''. Income Tax Assessment Amendment Act (No. 3) 1983 No. 49 of 1983 - SECT 6 6. After section 159ZK of the Principal Act the following section is inserted: Reduction of rebate where combined taxable income exceeds $24,300 ''159ZKA. Where- (a) but for this section and section 159ZO, a taxpayer would be entitled to a rebate (in this section referred to as the 'unreduced rebate') in his assessment in respect of a year of income (in this section referred to as the 'relevant year of income'); and (b) the relevant combined taxable income in relation to the taxpayer exceeds $24,300, the amount of the rebate to which the taxpayer is entitled but for section 159ZO in respect of the relevant year of income is the amount ascertained in accordance with the formula A-B (C-24,300) , where- ------------ 3,600 A is the amount of the unreduced rebate; B is- (c) where the relevant year of income is the year of income that commenced on 1 July 1983-the amount ascertained in accordance with the formula D E where- ---- F D is the amount of the unreduced rebate; E is the number of whole months after 30 September 1983 and during the relevant year of income during which the taxpayer was an eligible occupier of a rebatable dwelling; and F is the number of whole months in the relevant year of income during which the taxpayer was an eligible occupier of a rebatable dwelling; and (d) where the relevant year of income is the year of income commencing on 1 July 1984 or a subsequent year of income-the amount of the unreduced rebate; and C is- (e) where paragraph (f) does not apply-27,900; and (f) where the number of whole dollars in the relevant combined taxable income in relation to the taxpayer is less than 27,900-the number of whole dollars in that relevant combined taxable income.''. Income Tax Assessment Amendment Act (No. 3) 1983 No. 49 of 1983 - SECT 7 Reduction of rebate limit in cases of co-ownership 7. Section 159ZN of the Principal Act is amended by inserting in paragraph (2) (a) ''159ZKA,'' before ''159ZNC''. Income Tax Assessment Amendment Act (No. 3) 1983 No. 49 of 1983 - SECT 8 Amendment of assessments 8. Section 170 of the Principal Act is amended by inserting in sub-section (10) ''159ZJ (2B),'' after ''159R (4),''. Income Tax Assessment Amendment Act (No. 3) 1983 No. 49 of 1983 - NOTE NOTE 1. No. 27, 1936, as amended. For previous amendments, see No. 88, 1936; No. 5, 1937; No. 46, 1938; No. 30, 1939; Nos. 17 and 65, 1940; Nos. 58 and 69, 1941; Nos. 22 and 50, 1942; No. 10, 1943; Nos. 3 and 28, 1944; Nos. 4 and 37, 1945; No. 6, 1946; Nos. 11 and 63, 1947; No. 44, 1948; No. 66, 1949; No. 48, 1950; No. 44, 1951; Nos. 4, 28 and 90, 1952; Nos. 1, 28, 45 and 81, 1953; No. 43, 1954; Nos. 18 and 62, 1955; Nos. 25, 30 and 101, 1956; Nos. 39 and 65, 1957; No. 55, 1958; Nos. 12, 70 and 85, 1959; Nos. 17, 18, 58 and 108, 1960; Nos. 17, 27 and 94, 1961; Nos. 39 and 98, 1962; Nos. 34 and 69, 1963; Nos. 46, 68, 110 and 115, 1964; Nos. 33, 103 and 143, 1965; Nos. 50 and 83, 1966; Nos. 19, 38, 76 and 85, 1967; Nos. 4, 60, 70, 87 and 148, 1968; Nos. 18, 93 and 101, 1969; No. 87, 1970; Nos. 6, 54 and 93, 1971; Nos. 5, 46, 47, 65 and 85, 1972; Nos. 51, 52, 53, 164 and 165, 1973; No. 216, 1973 (as amended by No. 20, 1974); Nos. 26 and 126, 1974; Nos. 80 and 117, 1975; Nos. 50, 53, 56, 98, 143, 165 and 205, 1976; Nos. 57, 126 and 127, 1977; Nos. 36, 57, 87, 90, 123, 171 and 172, 1978; Nos. 12, 19, 27, 43, 62, 146, 147 and 149, 1979; Nos. 19, 24, 57, 58, 124, 133, 134 and 159, 1980; Nos. 61, 92, 108, 109, 110, 111, 154 and 175, 1981; Nos. 29, 38, 39, 76, 80, 106 and 123, 1982; and Nos. 14, 25 and 39, 1983.