Income Tax and Other Laws (Repeal and Consequential Amendments) Regulation 2015

Select Legislative Instrument No. 156, 2015

Dated 03 September 2015

Peter Cosgrove

Governor‑General

By His Excellency’s Command

Josh Frydenberg

Contents

1............ Name................................................................................................... 1

2............ Commencement................................................................................... 1

3............ Authority............................................................................................. 1

4............ Schedules............................................................................................ 1

Schedule 1—Amendments                                                                                                3

Part 1—Repeals                                                                                                                3

Income Tax Regulations 1936                                                                                   3

Part 2—Other amendments                                                                                        4

Income Tax Assessment Regulations 1997                                                              4

Retirement Savings Accounts Regulations 1997                                                   4

Superannuation Industry (Supervision) Regulations 1994                                4

1  Name

                   This is the Income Tax and Other Laws (Repeal and Consequential Amendments) Regulation 2015.

2  Commencement

             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the following Acts:

                     (a)  the Income Tax Assessment Act 1936;

                     (b)  the Income Tax Assessment Act 1997;

                     (c)  the Retirement Savings Accounts Act 1997;

                     (d)  the Superannuation Industry (Supervision) Act 1993.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

Part 1—Repeals

Income Tax Regulations 1936

1  The whole of the Regulations

Repeal the Regulations.

Part 2—Other amendments

Income Tax Assessment Regulations 1997

2  Regulation 70‑55.01 (note)

Repeal the note.

3  Part 2 of Schedule 1 (note)

Repeal the note.

Retirement Savings Accounts Regulations 1997

4  Subregulation 1.07(3C)

Omit “regulation 9 of the Income Tax Regulations 1936”, substitute “section 7 of the Income Tax Assessment (1936 Act) Regulation 2015”.

Superannuation Industry (Supervision) Regulations 1994

5  Subregulations 1.05(12) and 1.06(10)

Omit “regulation 9 of the Income Tax Regulations 1936”, substitute “section 7 of the Income Tax Assessment (1936 Act) Regulation 2015”.