Section 126AB of the Principal Act is amended -

(a) in subsection (1), by the substitution of the following definition for the definition of "base year":

"'base year', in respect of each of the years 2024 and 2025, means the year 2022;",

and

(b) by the substitution of the following subsection for subsection (2):

"(2) A relevant person shall, for each of the years 2024 and 2025, not later than the due date in relation to each such year, deliver to the Commissioners a statement showing the assessable amount.".