Income Tax Assessment Amendment Act (No. 3) 1982 (Cth)

Income Tax Assessment Amendment Act (No. 3) 1982

No. 39 of 1982

An Act to amend the law relating to income tax

[Assented to 2 June 1982]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title, &c.

1. (1) This Act may be cited as the Income Tax Assessment Amendment Act (No. 3) 1982.

(2) The Income Tax Assessment Act 19361 is in this Act referred to as the Principal Act.

Commencement

2. (1) Subject to sub-section (2), this Act shall come into operation on the day on which it receives the Royal Assent.

(2) Section 3 shall come into operation, or shall be deemed to have come into operation, as the case requires, immediately after the commencement of the Income Tax Assessment Amendment Act (No. 2) 1982.

Officers to observe secrecy

3. Section 16 of the Principal Act is amended by adding at the end of paragraph (4a) (b) “, being an offence the punishment, or maximum punishment, for which is or includes imprisonment for life or for a period exceeding 6 months.”.

Exemptions

4. (1) Section 23 of the Principal Act is amended by inserting after paragraph (jc) the following paragraph:

“(jd) income derived by the Australian Wool Testing Authority Limited, a company incorporated in Victoria, being—

(i) income derived by the company from—

(a) the carrying out by the company of tests of sheep’s wool, lambs’ wool, other fibres (whether natural or otherwise), products made wholly or partly from sheep’s wool or lambs’ wool or similar products made wholly or partly from other fibres (whether natural or otherwise); or

(b) the issue of certificates, or the making of reports, by the company in respect of tests of the kind referred to in sub-sub-paragraph (A); or

(ii) income derived by the company from the investment of—

(A) income to which sub-paragraph (i) or this sub-paragraph applies; or

(b) moneys that are to be used by the company in, or in connection with, the carrying out by the company of the activities referred to in sub-paragraph (i);”.

(2) The amendment made by sub-section (1) applies to income derived on or after 1 July 1982.

NOTE

1. No. 27, 1936, as amended. For previous amendments, see No. 88, 1936; No. 5, 1937; No. 46, 1938; No. 30, 1939; Nos. 17 and 65, 1940; Nos. 58 and 69, 1941; Nos. 22 and 50, 1942; No. 10, 1943; Nos. 3 and 28, 1944; Nos. 4 and 37, 1945; No. 6, 1946; Nos. 11 and 63, 1947; No. 44, 1948; No. 66, 1949; No. 48, 1950; No. 44, 1951; Nos. 4, 28 and 90, 1952; Nos. 1, 28, 45 and 81, 1953; No. 43, 1954; Nos. 18 and 62, 1955; Nos. 25, 30 and 101, 1956; Nos. 39 and 65, 1957; No. 55, 1958; Nos. 12, 70 and 85, 1959; Nos. 17, 18, 58 and 108, 1960; Nos. 17, 27 and 94, 1961; Nos. 39 and 98, 1962; Nos. 34 and 69, 1963; Nos. 46, 68, 110 and 115, 1964; Nos. 33, 103 and 143, 1965; Nos. 50 and 83, 1966; Nos. 19, 38, 76 and 85, 1967; Nos. 4, 60, 70, 87 and 148, 1968; Nos. 18, 93 and 101, 1969; No. 87, 1970; Nos. 6, 54 and 93, 1971; Nos. 5, 46, 47, 65 and 85, 1972; Nos. 51, 52, 53, 164 and 165, 1973; No. 216, 1973 (as amended by No. 20, 1974); Nos. 26 and 126, 1974; Nos. 80 and 117, 1975; Nos. 50, 53, 56, 98, 143, 165 and 205, 1976; Nos. 57, 126 and 127, 1977; Nos. 36, 57, 87, 90, 123, 171 and 172, 1978; Nos. 12, 19, 27, 43, 62, 146, 147 and 149, 1979; Nos. 19, 24, 57, 58, 124, 133, 134 and 159, 1980; Nos. 61, 108, 109, 110, 111, 154 and 175, 1981; and Nos. 29 and 38, 1982.