The existing Income Tax Assessment Regulations 1997 (the 1997 Regulations) are scheduled to sunset on 1 April 2021. The 1997 Regulations include certain operational rules for income tax calculations and liabilities for individuals, companies, trusts, partnerships and superannuation funds. They are necessary to support the operation of the Income Tax Assessment Act 1997.
the draft income tax assessment regulations 2020 remake and improve the operation of the 1997 regulations by omitting redundant provisions, simplifying language and restructuring provisions for ease of navigation. these changes do not affect the substantive meaning or operation of the provisions except in limited cases that are specifically identified in the draft explanatory material.
further details on the draft regulations are contained in the explanatory material.
365体育投注you can submit responses to this consultation up until 19 october 2020. interested parties are invited to comment on this consultation.
365体育投注while submissions may be lodged electronically or by post, electronic lodgement is preferred. for accessibility reasons, please submit responses sent via email in a word or rtf format. an additional pdf version may also be submitted.
all information (including name and address details) contained in submissions will be made available to the public on the treasury website unless you indicate that you would like all or part of your submission to remain in confidence. automatically generated confidentiality statements in emails do not suffice for this purpose. respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.
Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.
View our submission guidelines for further information.
How To Respond
365体育投注address written submissions to:
Retirement Income Policy Division
PARKES ACT 2600