Income Tax (Drought Bonds)

No. 100 of 1969

An Act to impose Income Tax, in relation to certain Redemptions of Drought Bonds, by reference to the Income Tax saved by reason of the Purchase thereof.

[Assented to 27 September 1969]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title.

1. This Act may be cited as the Income Tax (Drought Bonds) Act 1969.

Commencement.

2. This Act shall come into operation on the day on which it receives the Royal Assent.

Imposition of tax.

3. The tax known as income tax, to the extent that that tax is payable in accordance with section 159c of the Income Tax Assessment Act 1936–1969, is imposed by this Act.