Parliament passes 'Rewrite' bill

The Income Tax Bill passed through its final stage in Parliament today, but the resulting Income Tax Act 2004 is not expected to be enacted for several weeks. The delay is due to the time required by the Office of the Clerk to check the proofs of the 2089-page Act before it is sent for final printing, and then signing by the Governor-General. The new legislation rewrites the first five parts of the Income Tax Act 1994 and re-enacts the remaining parts, which will remain in traditional statutory language and style until they are also rewritten.