Taxation Administration

No. 155 of 1965

An Act to amend the Taxation Administration Act 1953–1964 in relation to Decimal Currency.

[Assented to 18 December, 1965]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the Taxation Administration Act 1965.

(2.) The Taxation Administration Act 1953–1964, as amended by this Act, may be cited as the Taxation Administration Act 1953–1965.

Commencement.

2. This Act shall come into operation on the fourteenth day of February, One thousand nine hundred and sixty-six.

3. After section 16 of the Taxation Administration Act 1953–1964 the following section is inserted:—

Powers of taxation officers in relation to references to currency, &c.

“17.—(1.) In this section—

‘decimal currency’ means the currency provided for by the Currency Act 1965;

‘law of the Commonwealth’ has the same meaning as in section 10 of the Currency Act 1965;

‘officer’ means the Commissioner of Taxation, a Second Commissioner of Taxation, an officer of the Public Service of the Commonwealth or a person employed under Division 10 of Part III. of the Public Service Act 1922–1964;

‘taxation law’ means any law of the Commonwealth of which the Commissioner of Taxation has the genera administration;

‘the previous currency’ means the currency provided for the Coinage Act 1909–1947.

“(2.) An officer may, in the exercise of, or for the purpose of exercising, any power under a taxation law or in the performance of, or for the purpose of performing, any function under a taxation law—

(a) treat—

(i) a reference in a law of the Commonwealth;

(ii) a reference in a bill of exchange, promissory note, security for money, contract or agreement (whether the contract or agreement is in writing or not), deed or other instrument; or

(iii) a reference in any other manner,

to an amount of money in the previous currency as a reference to a corresponding amount of money; in decimal currency and treat such a reference to an amount of money in decimal currency as a reference to a corresponding amount of money in the previous currency;

(b) treat an amount of money in the previous currency as a corresponding amount of money in decimal currency and treat an amount of money in decimal currency as a corresponding amount of money in the previous currency; and

(c) express an amount of money in either decimal currency or the previous currency.

“(3.) For the purposes of paragraphs (a), (b) and (c) of the last preceding sub-section—

(a) the amount of money in decimal currency that corresponds with an amount of money in the previous currency; and

(b) the amount of money in the previous currency that corresponds with an amount of money in decimal currency,

shall be calculated on the basis of the equivalents specified in sub-section (4.) of section 8 of the Currency Act 1965.”.