Taxation Laws Amendment Act 1994 (56 of 1994)

Part 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 6   Penalties for over-franking dividends

48   Penalty for over-franking

 

(1) Section 160ARX of the Principal Act is amended by omitting from subsection (1) "payable" and substituting "that would be payable apart from subsection 160AQJ(2)".
            

      

(2) Section 160ARX of the Principal Act is amended by omitting from subsection (2) "payable" and substituting "that would be payable apart from subsection 160AQJ(2)".
            

      

(3) Section 160ARX of the Principal Act, as it applies in relation to a company in relation to a franking year in relation to which the amendments made by section 103 of the Taxation Laws Amendment Act (No. 3) 1993 do not apply, is amended by omitting "payable" and substituting "that would be payable apart from subsection 160AQJ(2)".