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The Taxation Institute issued a media release on Friday, 18 June 2010 entitled "Tax professionals welcome streamlined law". The Institute hailed the passing of the Tax Laws Amendment (Transfer of Provisions) Bill 2010 through the Senate as a significant step forward for tax professionals and their clients. The Bill rewrites several significant areas of the Income Tax Assessment Act 1936 into the Income Tax Assessment Act 1997, and we encourage the Government to continue with the process of moving to one Income Tax Act.

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