Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012 (14 of 2012)

Schedule 3   Amendment of other Acts

Part 1   Amendments commencing at the same time as the Minerals Resource Rent Tax Act 2012 commences

Income Tax Assessment Act 1997

54   Subsection 995-1(1) (definition of instalment income )

Repeal the definition, substitute:

instalment income :

(a) in relation to a period that is, or is part of, an income year - has the meaning given by sections 45-120, 45-260, 45-280, 45-285, 45-286 and 45-465 in Schedule 1 to the Taxation Administration Act 1953; and

(b) in relation to an *instalment quarter of an *MRRT year - has the meaning given by sections 115-40 and 115-95 in Schedule 1 to the Taxation Administration Act 1953.