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| |
| Issue:
HA 1(1)(a), HA
11(4), HA 14(3), HA 22, HA 24(5), HA 26 |
| Submission Number |
112 |
| Submitter |
Russell McVeagh |
Section / Provision Income Tax Act 2007 |
HA 1(1)(a), HA 11(4), HA 14(3), HA 22, HA 24(5), HA 26 |
Section / Provision Income Tax Act 2004 |
HG 1(c), HG 18,
HG 13(1)(c), HG 10(b), HG 16(1)(c), HG 16(2)(d) |
Date Received |
06/03/2009 |
| Description of issue |
This submission sets out what
we view as unintended changes to the qualifying company regime
in sub-part HA of the Income Tax Act 2007 ('2007 Act") arising
from the rewrite of sub-part HG, the equivalent sub-part, in the
Income Tax Act 2004 ("2004 Act"). |
| Section / Provision Income Tax Act 1994 |
|
| Status |
Finalised |
| Outcome |
The Panel concludes on all five
issues:
-
Issue 1:
An
unintended legislative change arises in respect of section
HA 1(1)(a) of the Income Tax Act 2007.
-
Issue 2:
An unintended legislative change arises in respect of
section HA 11(4) of the Income Tax Act 2007.
-
Issue 3:
No unintended legislative change arises in respect of
section HA 14(3) of the Income Tax Act 2007.
-
Issue 4:
An unintended legislative change arises in respect of
section HA 24(5) of Income Tax Act 2007. That
section HA 24(5) of the Income Tax Act 2007 be amended
retrospectively.
-
Issue 5:
An unintended legislative change arises in respect of
section HA 26 of the Income Tax Act 2007. That
section HA 26 of the Income Tax Act 2007 be amended
retrospectively.
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