MEMBER 168 writes:
"I read with interest that another Omnibus Repeal bill has been introduced repealing mass amounts of legislation that supposedly is no longer in use. I only hope that the Government checks this thoroughly before enacting.
A good example of this is the 45 Day rule for franking credits. The Government decided to remove this legislation in an earlier Omnibus Bill (in 2006, I believe), but the ATO still believes it exists. Can anyone tell how legally this now works? There is a vague reference to a piece of former legislation, but it does not exist to research it, so in my view, if the law has been deleted, it should be invalid. If anyone can enlighten me how this works at law – please do so."
TAXVINE COMMENT: The ATO view and explanation for the view are contained in TD 2007/11. The former legislation (Div 1A of former Part IIIAA ITAA 1936) is referred to in ss 207-145 and 207-150 ITAA 1997. The terms of Div 1A of former Part IIIAA ITAA 1936 can be found as a note to s 207-145 ITAA 1997 on the ATO's legal database here