Commonwealth of Australia Explanatory Memoranda

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TAX LAWS AMENDMENT (2009 BUDGET MEASURES NO. 2) BILL 2009

2008-2009




               THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA





                          HOUSE OF REPRESENTATIVES





          Tax laws amendment (2009 budget measures no. 2) bill 2009





                   ADDENDUM TO THE EXPLANATORY MEMORANDUM





                     (Circulated by the authority of the
                      Treasurer, the Hon Wayne Swan MP)











         Insert the following after paragraph 2.37:


Review rights relating to the Commissioner's discretion


         2.37A    The Commissioner's exercise of a discretion under the non-
         commercial losses rules (including a decision not to exercise a
         discretion) is a matter leading up to or forming part of the making
         of an income tax assessment.


         2.37B    All decisions leading up to or forming part of the making
         of an income tax assessment are subject to a formal review process
         (including internal review and review by the Administrative Appeals
         Tribunal and Federal Court of Australia).