5.The purpose of the Income Tax (Trading and Other Income) Act is to rewrite income tax legislation relating to trading, property and investment income so as to make it clearer and easier to use.
6.The Act does not generally change the underlying law when rewriting it. The only changes to the law which it does make are minor ones which are within the remit of the Tax Law Rewrite Project and the Parliamentary process for the Act.
7.In the main, such changes are intended to clarify existing provisions, make them consistent or bring the law into line with well established practice.