INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VI - COLLECTION AND RECOVERY OF TAX  

Division 1B - Collection of tax on companies and trustees of certain funds  

SECTION 221AZ   ADDITIONAL PAYMENTS TO FORM PART OF INITIAL PAYMENT  

221AZ(1)   [Initial payment]  

Subject to this section, an amount paid by a relevant entity under subsection 221AR(5) , 221AW(4) or 221AX(8) , or as mentioned in subsection 221AR(7) , is to be taken for the purposes of this Act to be, or to constitute part of, as the case requires, the initial payment of tax that the entity is required to make under section 221AP in respect of its taxable income of the year of income concerned and a reference in this Division to an initial payment of tax is, unless the context otherwise requires, to be taken to include a reference to an amount so paid.

221AZ(2)   [Payment under sec 221AR(7)]  

An amount paid as mentioned in subsection 221AR(7) is not taken, for the purposes of Part IIIAA , to be, or to constitute part of, as the case requires, an initial payment of tax.