Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 4) 1986 No. 154 of 1986 - SECT 49

49. (1) In this section, "amended Act" means the Principal Act as amended by
this Act.

(2) The amendment made by paragraph 26 (a) applies in relation to income
received in respect of a period commencing on or after 1 January 1986.

(3) Notwithstanding the amendments of the Principal Act made by paragraphs 26
(b) and (c) and sections 28 and 40, the Principal Act continues to apply,
after the commencement of this sub-section, in relation to-

   (a)  benefits received as a grant of Tertiary Education Assistance under
        the Student Assistance Act 1973; and

   (b)  payments received under the scheme known as the Adult Secondary
        Education Assistance Scheme, before or after the commencement of this
        sub-section, as if those amendments had not been made.

(4) The amendment made by paragraph 27 (a) applies in relation to an
instalment or payment of a pension or benefit, being an instalment or payment
falling due on or after 21 March 1985.

(5) The amendment made by paragraph 29 (a) applies in relation to an eligible
26AH amount, as defined in sub-section 160AAB (1) of the Principal Act,
received, within the meaning of section 26AH of the Principal Act, on or after
1 January 1986.

(6) The amendment made by paragraph 29 (b) applies to assessments in respect
of income of the year of income in which 18 September 1984 occurred and of all
subsequent years of income.

(7) In the application of sub-section 160AAA (2) of the amended Act in
relation to the year of income that commenced on 1 July 1986, where-

   (a)  the assessable income of a taxpayer of that year of income would, but
        for this sub-section, include an amount paid by way of a benefit
        received as a grant of Education Assistance under Part III of the
        Student Assistance Act  1973 that is granted in respect of the
        undertaking of a course of study or instruction that is determined to
        be a secondary course for the purposes of section 10 of that Act or in
        respect of the undertaking of a part of a course of study or
        instruction that is determined to be part of a secondary course for
        the purposes of that section; and

   (b)  if the scheme known as the Adult Secondary Education Assistance Scheme
        had been in operation throughout that year of income, the taxpayer
        would not have been eligible to receive a payment under that scheme in
        respect of the undertaking of that course of study or instruction or
        in respect of the undertaking of that part of that course of study or
        instruction, as the case may be, the assessable income of the taxpayer
        of that year of income shall not be taken to have included the amount
        referred to in paragraph (a) of this sub-section.

(8) The amendments made by sections 30 to 38 (inclusive) apply to assessments
in respect of income of the year of income in which 20 September 1985 occurred
and of all subsequent years of income.

(9) Subject to sub-section (10), the amendments made by sections 43 and 44
apply in relation to the ascertainment of provisional tax in respect of the
year of income that commenced on 1 July 1986 and all subsequent years of
income.

(10) Section 221YHAAB of the amended Act does not apply in relation to
statements furnished under sub-section 221YDA (1) of the amended Act before
the commencement of this sub-section.

(11) Section 221YHZB and sub-section 255 (2A) of the amended Act apply in
relation to a payment made to a non-resident after the date of commencement of
this sub-section.