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Monday, 8 October 1984
Page: 1430


Senator WALSH (Minister for Resources and Energy)(9.54) —by leave-I move:

(1) Page 16, paragraph 37 (a), proposed new paragraph 31 (aa), line 16, leave out 'and'.

(2) Page 16, clause 37, after paragraph (a) insert the following paragraph:

'(aa) by omitting paragraph (c) and substituting the following paragraph:

''(c) the Commissioner shall-

(i) refund the amount of any tax overpaid as a result of the variation of the prescribed decision; or

(ii) apply the amount of any tax overpaid as a result of the variation of the prescribed decision against any liability of the person to the Commonwealth and refund any part of the amount that is not so applied''; and'.

(3) Page 16, paragraph 38 (a), proposed new paragraph 32 (aa), line 26, leave out 'and'.

(4) Page 16, clause 38, after paragraph (a) insert the following paragraph:

'(aa) by omitting paragraph (c) and substituting the following paragraph:

''(c) the Commissioner shall-

(i) refund the amount of any tax overpaid as a result of the variation of the assessment; or

(ii) apply the amount of any tax overpaid as a result of the variation of the assessment against any liability of the person to the Commonwealth and refund any part of the amount that is not so applied''; and'.

(5) Page 18, paragraph 44 (d), proposed paragraph 3 (1) (g), line 27, insert ' or (1D)' after '221YHD (1)'.

(6) Page 52, proposed sub-section 221 YHJ (1), line 29, before 'remains', insert 'or sub-paragraph 221YHD (1D) (c) (i)'.

(7) Page 156, proposed sub-sub-paragraph 10 (1) (a) (iii) (B), line 34, leave out 'commencement of section 10A', insert 'day on which the Taxation Laws Amendment Act 1984 received the Royal Assent'.

(8) Page 169, after clause 358 insert the following new clause:

Default assessments

'358A. Section 40 of the Principal Act is amended by omitting sub-sections (2) and (3).'.

(9) Page 176, sub-clause 381 (4), line 21, leave out 'sections 38 and 40', substitute 'section 38'.

(10) Page 176, paragraph 381 (4) (a), line 23, leave out ', 40 (3)'.

(11) Page 176, clause 381, after sub-clause (4) insert the following sub-clause :

'(4A) Notwithstanding the amendment of section 40 of the Principal Act made by this Act, sub-section 40 (3) of the Principal Act continues to apply, after the commencement of this section, in relation to a liability for additional tax that accrued before that commencement, as if that amendment had not been made.'.

(12) Page 193, Schedule 6, amendment of paragraph 221YHD (3) (b) of the Income Tax Assessment Act 1936, omit 'after ''sub-sub-paragraph (1) (b) (v) (A)'' ', insert 'from and including ''applies-'' to the end of the paragraph'.

These amendments are all of a technical nature. The Bill as introduced will insert uniform provisions into the various taxation laws to authorise the Commissioner of Taxation to refund any overpaid tax, duty or charge or to apply overpaid amounts against any outstanding liability of the person under any Act administered by the Commissioner and to refund any balance. Amendments (1) to (4 ) will insert similar provisions in the Bank Account Debits Tax Administration Act 1982 in cases where a refund of tax arises from a reduction in a person's tax liability following a decision of a board of review or supreme court. These were overlooked during drafting of the Bill. Amendment (7) will correct a drafting error as to the date on which interest will commence to be payable on overpaid amounts that will be brought within the operation of the Taxation ( Interest on Overpayments) Act 1982 by clause 319. Interest will commence to be payable on those amounts two months after the Bill receives royal assent.

Various clauses of the Bill amend the default assessment provisions of the different taxation laws-other than income tax-to delete penalties that are being duplicated by the new penalties applicable to acts or omissions that lead to the evasion of tax, duty or charge. However, the relevant provisions of the Wool Tax (Administration) Act 1964 were inadvertently not included in the Bill, and amendments (8) to (11) will correct that oversight. Amendments (5), (6) and (12) are consequential upon amendments made to the Income Tax Assessment Amendment Bill (No. 4) 1984 in another place proposing amendments to the Income Tax Assessment Act 1936 to change the operation of the prescribed payments system. I commend the amendments to the Committee.

Amendments agreed to.