INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VI - COLLECTION AND RECOVERY OF TAX  

Division 3B - Collection of tax in respect of certain payments  

Subdivision C - Collection of TFN withholding tax payable on the non-quotation of tax file numbers in respect of eligible deferred interest investments  

SECTION 221YHZX   EXTENDED OPERATION OF CERTAIN PROVISIONS OF SUBDIVISION B  

221YHZX(1)   [Operation of sec 221YHZD(2)]  

Subsection 221YHZD(2) has effect as if a reference in that subsection to an amount payable to the Commissioner by a person by virtue of subsection 221YHZD(1A) included a reference to an amount of TFN withholding tax payable by a person.

221YHZX(2)   [Operation of sec 221YHZD(3)]  

Subsection 221YHZD(3) has effect as if a reference in it to an amount deducted before 1 June 1993 included a reference to an amount of TFN withholding tax that became payable before 1 July 1993.

221YHZX(3)   [Operation of sec 221YHZK]  

In addition to its effect apart from this subsection, section 221YHZK also has effect as if:

(a) in the case of an investor who has not adopted an accounting period in lieu of a year of income - an amount of TFN withholding tax paid in relation to a year of income and in relation to an eligible deferred interest investment of the investor were an amount deducted during the year of income under subsection 221YHZC(1A) from a payment to the investor; or

(b) in any other case - an amount of TFN withholding tax that was paid during a year of income of the investor and in relation to an eligible deferred interest investment of the investor were an amount deducted during the year of income under subsection 221YHZC(1A) from a payment to the investor.