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Tax Laws Amendment (2009 Budget Measures No. 2) Bill 2009

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2008-2009

 

THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

 

HOUSE OF REPRESENTATIVES

 

Tax laws amendment (2009 budget measures n o . 2) bill 2009

 

ADDENDUM TO THE EXPLANATORY MEMORANDUM

 

(Circulated by the authority of the

Treasurer, the Hon Wayne Swan MP)

 

 

 

Insert the following after paragraph 2.37:

Review rights relating to the Commissioner’s discretion

2.37A    The Commissioner’s exercise of a discretion under the non-commercial losses rules (including a decision not to exercise a discretion) is a matter leading up to or forming part of the making of an income tax assessment.

2.37B     All decisions leading up to or forming part of the making of an income tax assessment are subject to a formal review process (including internal review and review by the Administrative Appeals Tribunal and Federal Court of Australia).