Commonwealth Numbered Acts

INCOME TAX (ASSESSMENT AND RATES) AMENDMENT ACT 1981 No. 109 of 1981 - SECT 29

29. (1) Section 160AA of the Principal Act is amended -

   (a)  by omitting from sub-section (1) "$16,608" and substituting "$17,894";

   (b)  by omitting "$3,893" (wherever occurring) from the definition of

"relevant income amount" in sub-section (2) and substituting "$4,195"; and

   (c)  by omitting sub-sections (3), (3A), (3B), (4) and (5).

(2) The amendments made by paragraphs (1) (a) and (b) apply to assessments in
respect of income of the year of income commencing on 1 July 1981 and in
respect of income of all subsequent years of income.

(3) The amendment made by paragraph (1) (c) applies to assessments in respect
of income of the year of income that commenced on 1 July 1980 and in respect
of income of all subsequent years of income.

(4) In the application of section 160AA of the Income Tax Assessment Act  1936
to assessments in respect of income of the year of income that commenced on 1
July 1980 -

   (a)  the reference in paragraph (1) (b) of that section to $16,608 shall be
        read as a reference to $17,239; and

   (b)  the references in sub-section (2) of that section to $3,893 shall be
        read as references to $4,041.