Income Tax (Transitional Provisions) (Permanent Incapacity Benefits) Rules 2024

I, Stephen Jones, Assistant Treasurer and Minister for Financial Services, make the following rules.

Dated   31 January 2024

Stephen Jones

Assistant Treasurer
Minister for Financial Services

Contents

Part 1—Preliminary

1  Name 

2  Commencement

3  Authority

4  Definitions

Part 2—Transitional rules

5  Amendment of assessments—transitional rule for permanent incapacity benefits

Part 1—Preliminary

1  Name

  This instrument is the Income Tax (Transitional Provisions) (Permanent Incapacity Benefits) Rules 2024.

2  Commencement

 (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under the Income Tax (Transitional Provisions) Act 1997.

4  Definitions

Note: Expressions have the same meaning in this instrument as in the Income Tax (Transitional Provisions) Act 1997 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.

  In this instrument:

Act means the Income Tax (Transitional Provisions) Act 1997.

Part 2—Transitional rules

5  Amendment of assessments—transitional rule for permanent incapacity benefits

  Under section 301-105 of the Act, subparagraph 301-100(2)(b)(i) of the Act has effect as if the reference in that subparagraph to the 2021-22 income year were a reference to the 2022-23 income year.