The Issues Log

Section / Provision Income Tax Act 2007

HR 8

Section / Provision Income Tax Act 2004

FC 24

Date Received

This submission relates to the election not to be a transitional resident under section HR 8 of the Income Tax Act 2007. 

The Income Tax Act 2007 does not seem to provide for an election by way of giving a notice of election, as was previously provided under section FC 24 of the Income Tax Act 2004.  

This has not been identified as an intended change in schedule 51 of the Income Tax Act 2007.

Not applicable.  Section FC 24 of the Income Tax Act 2004 was inserted by 2006 No 3 and substituted by 2006 No 81.

The Income Tax Act 2007 be amended retrospectively