Tax Laws Amendment (2009 Measures No. 5) Act 2009 (118 of 2009)

Schedule 5   Exempting Commonwealth Government Securities from interest withholding tax

Income Tax Assessment Act 1936

2   Subsection 128F(7)

Repeal the subsection, substitute:

Australian public bodies are treated as Australian resident companies

(7) This section applies in relation to a debenture or debt interest issued by:

(a) the Commonwealth, a State or a Territory; or

(b) an authority of the Commonwealth, of a State or of a Territory;

as if the Commonwealth, State, Territory or authority were a company and a resident of Australia.