Clause 1

This Act may be cited as the Income Tax (Amendment) Act 2003.(2) Sections 4(a), 5, 6, 8, 15(b) (in relation to section 14M(8G)), 25, 26 (except in relation to transfer to claimant company) and 29 shall be deemed to have come into operation on 10th December 2002.(3) Sections 10, 42 and 43 shall be deemed to have come into operation on 1st January 2003.(4) Section 40 shall be deemed to have come into operation on 28th February 2003.(5) Sections 9, 30(c) (in relation to delegation of approving authority), (e), (h) and (i), 31, 35, 44(a) and 45 shall be deemed to have come into operation on 1st April 2003.(6) Sections 3(e) and (f) and 18 (in relation to insertion of section 14P) shall be deemed to have come into operation on 1st June 2003.(7) Section 30(c) (in relation to tax deduction for donation of sculpture) shall be deemed to have come into operation on 1st July 2003.(8) Section 23 shall be deemed to have come into operation on 1st November 2003.(9) Sections 49, 50 and 52(b) shall come into operation on 1st January 2004.(10) Sections 12, 14, 15(b) (except in relation to section 14M(8G)), 26 (in relation to transfer to claimant company). 30(a), (b), (g), (j), (k) and (l), 38, 46(a) (in relation to section 50A(1)(a)), (b), (c) and (d) and 52(c), (d) and (e) shall have effect for the year of assessment 2003 and subsequent years of assessment.(11) Sections 3(d) (in relation to section 13(1)(zb)) and (l), 4(b), 7, 16(c), 27, 28, 32(a) and (b), 33, 37, 46(a) (in relation to section 50A(1)(aa)), 51 and 52(h) and (i) shall have effect for the year of assessment 2004 and subsequent years of assessment.