Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 3) 1994 No. 138 of 1994 - SCHEDULE 1

AMENDMENTS OF THE INCOME TAX ASSESSMENT ACT 1936
CONSEQUENT UPON THE INTRODUCTION OF THE
REPORTABLE PAYMENTS SYSTEM
PART 1
Item    Provision to be amended          Amendment

1.      Subsection                       After "Division" (first

        215(6)(paragraph (c) of the      occurring) insert "1AA,".

definition of "tax")
Subsection
218(6B) (paragraph (b) and
subparagraph (c)(iii) of the
definition of "tax")
Subsection
218(6B) (definition of

"taxpayer")
Subparagraph
222AGB(2)(e)(ii)
Paragraph 222AGD(1)(b)
222AGF(4)(a)
222AHE(4)(a)
222AID(4)(a)
222AIH(3)(a)
222AJB(1)(b)
Subsection
222AJB(3)
222AJC(1)
222AOA(1)
Paragraph
222AOB(1)(a)
222AOC(a)
2.      Subparagraph                     After "Division" (second

        221AY(6)(a)(i)                   occurring) insert "1AA or".

221AZE(6)(a)(i)
221AZP(1)(b)(i)
3.      Subparagraph                     After "section" insert

        221YAB(a)(vii)                   "220AZC,".

Subsection
221ZY(1) (definition of

"relevant provision")
4.      Subsection                       After "Divisions" insert

        222AFA(1)                        "1AA,".

222AFA(4)
222ALA(6)
5.      Subsection                       After "Sections" insert

        222AFA(5)                        "220AY,".

222ANA(4)

PART 2 1. Subsection 221AV(2):
Before "3A" insert "1AA or". 2. Subsection 221YA(1):
Insert:

" 'reportable payment' has the same meaning as in Division 1AA;". 3.
Subsection 221YC(1A):
Before "salary or wages," insert "reportable payments,". 4. Subsection
221YC(5):
Omit "Division 3A", substitute "Division 1AA or 3A from reportable payments
or". 5. Paragraphs 221YCAA(2)(m) and (q):
After "160AF" insert ", 220AZ, 220AZA, 220AZB". 6. After paragraph
221YDA(1)(d):
Insert:

"(daaa) the amount of the reportable payments from which deductions have been,
or will be, made in accordance with Division 1AA during that year of income;".
7. Before paragraph 221YDA(1)(e):
Insert:

"(dba) the amount of the deductions that have been, and will be, made under
Division 1AA from reportable payments that have been, and will be, made to the
taxpayer during the year of income;". 8. Subparagraph 221YDA(2)(b)(ii):

   (a)  Omit "(1)(e)" insert "(1)(dba), (e)".

   (b)  After "in accordance with" insert "Division 1AA,". 9. Paragraph
        221YDB(1A)(b):
After "includes" (first occurring) insert "reportable payments,". 10.
Subparagraphs 221YDB(1A)(b)(i), (ii) and (iii):
Omit the subparagraphs, substitute:

"(i) if the income of the taxpayer of the year of income includes reportable
payments-the amount of any deductions made from those payments under Division
1AA; and

        (ii)   if the income of the taxpayer of the year of income includes
               salary or wages-the amount of any deductions made from that
               salary or wages under sections 221C and 221D; and

        (iii)  if the income of the taxpayer of the year of income includes
               prescribed payments-the amount of any deductions made from
               those payments under Division 3A.". 11. Paragraph
               221YDB(1AA)(d):
Omit all the words after "reduced", substitute:

"by the sum of the following amounts:

        (i)    if the income of the taxpayer of the year of income includes
               reportable payments-the amount of any deductions made from
               those payments under Division 1AA;

        (ii)   if the income of the taxpayer of the year of income includes
               salary or wages-the amount of any deductions made from that
               salary or wages under sections 221C and 221D;

        (iii)  if the income of the taxpayer of the year of income includes
               prescribed payments-the amount of any deductions made from
               those payments under Division 3A;". 12. Paragraph
               221YDB(1ABA)(f) (subparagraph (ii) of the definition of
               "Relevant amount"):
Omit all the words after "reduced", substitute:

"by the sum of the following amounts:

                (A)  if the income of the taxpayer of the year of income
                     includes reportable payments-the amount of any deductions
                     made from those payments under Division 1AA;

                (B)  if the income of the taxpayer of the year of income
                     includes salary or wages-the amount of any deductions
                     made from that salary or wages under sections 221C and
                     221D;

                (C)  if the income of the taxpayer of the year of income
                     includes prescribed payments-the amount of any deductions
                     made from those payments under Division 3A;". 13. Heading
                     to Division 8 of Part VI:
After "Divisions" insert "1AA,". 14. Subsection 222AFB(1) (definition of
"person"):
Insert before paragraph (a):

"(aa) a person as defined in section 220AC; and". 15. Subsection 222AFB(1)
(definition of "remittance provision"):
Insert before paragraph (a):

"(aa) in Division 1AA-subsection 220AG(1);". 16. Subsection 222ALB(2):
After "subsection" (first occurring) insert "220AY(9),". 17. Subsection
222ANA(1):
After "Division" (second occurring) insert "1AA,". 18. Heading to Subdivision
B of Division 9 of Part VI:
After "Division" insert "1AA,".

NOTE ABOUT SECTION HEADING 1. On the day on which Division 1AA of Part VI of
the Income Tax  Assessment Act 1936 commences, the heading to section 222AJB
of that Act is altered by inserting "1AA," after "Division".