I move:—
(1) That Section 8 (which relates to time limits for making assessments) of the Finance Act, 1925 (No. 28 of 1925), shall be amended by—
(a) deleting in sub-section (1) the words "not later than six years after the expiration of the year of assessment", and
(b) deleting in sub-section (2) the words "not later than six years after the end of the year for which the person surcharged ought to have been charged", and
(c) deleting in sub-section (3) the words "not later than six years after the end of the year of assessment".
(2) That Rule 18 (as amended by Section 5 of the Finance Act, 1932 (No. 20 of 1932) of the General Rules applicable to Schedules A, B, C, D, and E, of the Income Tax Act, 1918, shall be amended by—
(a) deleting in paragraph (1) the words "one or more of the six years next preceding that year" and inserting in the said paragraph, in lieu of the said words so deleted, the words "previous year not earlier than the year beginning on the 6th day of April, 1922", and
(b) deleting in paragraph (2) the words "later than six years after the expiration of the year of assessment, nor in any case".
(3) That sub-section (3) of Section 8 of the Finance Act, 1925 (No. 28 of 1925), shall, in its application to surtax by virtue of sub-section (3) of Section 3 of the Finance Act, 1928 (No. 11 of 1928), have effect with and subject to the amendment thereof mentioned in paragraph (1) of this Resolution.
(4) It is hereby declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1927 (No. 7 of 1927).
This Resolution is designed to abolish the time limit of six years for the making of assessments, and to enable assessments to be made for any year back to 1922-23. In the Budget statement, I have explained the reasons which moved me to ask the House to adopt this Resolution.
