INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 16C - Income equalization deposits  

SECTION 159GDA  

159GDA   CREDIT FOR AMOUNTS WITHHELD UNDER SECTION 20B OF DEPOSITS ACT  
Where:

(a) the authorized person, within the meaning of the Deposits Act, has deducted an amount under section 20B of that Act in respect of the whole or a part of a deposit that has become repayable under that Act; and

(b) an assessment has been made or amended, as the case requires, in respect of income of the owner of the year of income in which an amount is or would be included in the assessable income of the owner because of the deposit or part of the deposit becoming repayable;

the owner is entitled to a credit equal to the amount so deducted.