Commentary on Sections Part 21: Other general provisions Section 1325: Transitional provisions and savings
3395.This section introduces Schedule 2 and provides for the Treasury to make transitional or savings provisions additional to those contained within the Schedule. It is new. A corresponding provision is in section 1030 of ITA.
3396.The power will not be exercised without the agreement of the Tax Law Rewrite Project’s Consultative and Steering Committees.
3397.Subsection (3) provides that the power may contain provision having retrospective effect.