Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 11 - Interest paid by companies on bearer debentures  

SECTION 127   CREDIT FOR TAX PAID BY COMPANY  

127(1)   [Credit for tax paid by company]  

Where the company pays tax under this Division on any interest, and that interest is included in the assessment of the person to whom it was paid or credited, the proportionate amount of tax paid by the company in respect of the interest shall be deducted from the total tax payable by that person.

127(2)    

(Omitted by No 95 of 1997)