Family Assistance Legislation Amendment (Extension of Time Limits) Act 2004 (Cth)

Family Assistance Legislation Amendment (Extension of Time Limits) Act 2004

No. 33, 2004

An Act to extend time limits in relation to family tax benefit and child care benefit, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedule(s)

Schedule 1—Extension of time limits relating to family tax benefit and child care benefit

Part 1—Amendment of the A New Tax System (Family Assistance) (Administration) Act 1999

Part 2—Amendment of the Income Tax Assessment Act 1997

Family Assistance Legislation Amendment (Extension of Time Limits) Act 2004

No. 33, 2004

An Act to extend time limits in relation to family tax benefit and child care benefit, and for related purposes

[Assented to 20 April 2004]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Family Assistance Legislation Amendment (Extension of Time Limits) Act 2004.

2 Commencement

This Act commences on the day on which it receives the Royal Assent.

3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Extension of time limits relating to family tax benefit and child care benefit

Part 1—Amendment of the A New Tax System (Family Assistance) (Administration) Act 1999

1 Paragraph 10(2)(b) Omit "next income year", substitute "2 income years immediately following that income year".

2 Subsection 28(3) Repeal the subsection, substitute:

Consequence where income tax returns are later lodged

(3) If: (a) after the Secretary varies the determination under subsection (2), an assessment is made under the Income Tax Assessment Act 1936 for the cancellation income year for everyone (the taxpayers involved): (i) who was required to lodge an income tax return as mentioned in subparagraph (1)(b)(iii); and (ii) in respect of whom an assessment had not been made before the determination was varied; and (b) the Secretary is satisfied that the claimant was eligible for an amount (the recalculated amount) of family tax benefit for the cancellation days; the Secretary must again vary the determination so that it has the effect that, for the cancellation days, the claimant is entitled to be paid: (c) if income tax returns for the cancellation year for the taxpayers involved were lodged with the Commissioner of Taxation during the income year that began 2 years after the beginning of the cancellation income year—the recalculated amount; or (d) in any other case—the lesser of: (i) the recalculated amount; and (ii) the amount that the claimant was entitled to be paid before the variation under subsection (2) was made.