Income Tax Act rewrite: Parts K and L

The exposure draft of Part K and Part L of the rewritten Income Tax Act was today released for public comment. The redrafted Part K now contains only the rules covering tax credit entitlements under the family income assistance scheme, while Part L deals with all other tax credit rules. Submissions on the exposure draft close on 17 March 2006. See "Rewriting the Income Tax Act – Exposure Draft, Part K and Part L".