INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
(a) an amount deducted before 1 June 1993 from a dividend, from interest or from a royalty is payable to the Commissioner under this Division by a person; and
(b) the property of that person has become vested in, or the control of the property of that person has passed to, a trustee;
the trustee is liable to pay that amount to the Commissioner.
Notwithstanding anything contained in any other Act or in a State Act, an amount payable to the Commissioner by a trustee in pursuance of this section has priority over all other debts (other than debts payable to the Commissioner), whether preferential, secured or unsecured.
221YU(3) [Costs of winding-up an administration]Where a trustee, being the trustee of the estate of a bankrupt or the liquidator of a company that is being wound up, is liable to pay an amount to the Commissioner in pursuance of this section, subsection (2) does not operate so as to make that amount payable in priority to any costs, charges or expenses of the administration of the estate or of the winding-up of the company (including costs of a creditor or other person upon whose petition the sequestration order or the winding-up order, if any, was made and remuneration of the trustee) that are lawfully payable out of the assets of the estate or of the company except where, in the case of the winding-up of a company, the Crown in right of a State or any other creditor is entitled to payment of a debt by the liquidator in priority to all or any of those costs, charges and expenses and has not waived that priority.
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