Taxation Laws Amendment Act (No. 4) 1994 (181 of 1994)

Schedule 1   AMENDMENTS OF THE INCOME TAX ASSESSMENT ACT 1936

Part 3   DIVIDEND IMPUTATION

61   Subsection 160ARXA(1)

Insert:

"'class A deficit deferral tax shortfall', in relation to a company and a refund, means any amount by which the company's class A statement deficit deferral tax for that refund at the time at which it was lowest is less than the company's class A proper deficit deferral tax for that refund;

'class B deficit deferral tax shortfall', in relation to a company and a refund, means any amount by which the company's class B statement deficit deferral tax for that refund at the time at which it was lowest is less than the company's class B proper deficit deferral tax for that refund;

'class A proper deficit deferral tax', in relation to a company and a refund, means the class A deficit deferral tax properly payable by the company in relation to the refund;

'class B proper deficit deferral tax', in relation to a company and a refund, means the class B deficit deferral tax properly payable by the company in relation to the refund;

'class A statement deficit deferral tax', in relation to a company, a refund, and a time, means the class A deficit deferral tax that would have been payable by the company in relation to the refund if the tax were assessed at that time taking into account taxation statements by the company;

'class B statement deficit deferral tax', in relation to a company, a refund and a time, means the class B deficit deferral tax that would have been payable by the company in relation to the refund if the tax were assessed at that time taking into account taxation statements by the company;

'deficit deferral tax shortfall', in relation to a company and a refund, means class A deficit deferral tax shortfall or class B deficit deferral tax shortfall;

'statement deficit deferral tax', in relation to a company and a refund, means class A statement deficit deferral tax or class B statement deficit deferral tax;".