Federal Register of Legislation - Australian Government

Primary content

Act No. 50 of 1986 as made
An Act to impose income tax in respect of avoided withholding tax amounts in relation to certain securities and agreements
Administered by: Treasury
Date of Assent 24 Jun 1986
Table of contents.

 

 

 

 

 

 

Income Tax (Securities and Agreements) (Withholding Tax Recoupment) Act 1986

 

No. 50, 1986

 

 

 

 

 

An Act to impose income tax in respect of avoided withholding tax amounts in relation to certain securities and agreements

  

  

  


Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Interpretation....................................................................................... 2

4............ Incorporation....................................................................................... 2

5............ Imposition of tax................................................................................. 2

6............ Amount of tax..................................................................................... 2


 

 

Income Tax (Securities and Agreements) (Withholding Tax Recoupment) Act 1986

 

No. 50, 1986

 

 

 

 

An Act to impose income tax in respect of avoided withholding tax amounts in relation to certain securities and agreements

[Assented to 24 June 1986]

The Parliament of Australia enacts:

1  Short title

                   This Act may be cited as the Income Tax (Securities and Agreements) (Withholding Tax Recoupment) Act 1986.

2  Commencement

                   This Act shall come into operation on the day on which the Taxation Laws Amendment Act (No. 2) 1986 receives the Royal Assent.

3  Interpretation

                   In this Act, Assessment Act means the Income Tax Assessment Act 1936.

4  Incorporation

                   The Assessment Act is incorporated and shall be read as one with this Act.

5  Imposition of tax

                   The tax known as income tax, to the extent that it is payable in accordance with subsection 128NA(4) of the Assessment Act, is imposed, and shall be levied and paid, upon the avoided withholding tax amount referred to in that subsection.

6  Amount of tax

                   The amount of the tax imposed by this Act in respect of the avoided withholding tax amount referred to in subsection 128NA(4) of the Assessment Act is an amount equal to that avoided withholding tax amount.