| Submission Number |
124 |
| Submitter |
Russell McVeagh
|
Section / Provision Income Tax Act 2007 |
IC 12 |
Section / Provision Income Tax Act 2004 |
IG 2(6) |
Date Received |
16/10/2009 |
| Description of issue |
This submission
sets out what we view as an unintended law change resulting from
the enactment of section IC 12 in the Income Tax Act 2007 ("2007
Act"). The change in law arises from the redraft of section IG
2(6) in the Income Tax Act 2004 ("2004 Act"). |
| Section / Provision Income Tax Act 1994 |
|
| Status |
Finalised |
| Outcome |
The Panel concludes an unintended legislative change arises in
respect of section IC 12(2) of the 2007 Act and the legislation
be amended retrospectively and also the language in IC 12(1)(b)
be amended to better reflect the policy. |
