Taxation Laws Amendment Act (No. 3) 1998 (47 of 1998)

Schedule 4   Payment of RPS, PAYE and PPS deductions to Commissioner

Part 2   Other amendments

Income Tax Assessment Act 1936

47   Subsection 221YHZD(4)

Repeal the subsection, substitute:

(4) Notwithstanding anything contained in any other law of the Commonwealth, or in any law of a State or Territory, an amount payable to the Commissioner by a trustee under subsection (3) has priority over all other debts, whether preferential, secured or unsecured.