Tax Laws Amendment (2008 Measures No. 5) Act 2008 (145 of 2008)

Schedule 3   Interest withholding tax and state government bonds

Income Tax Assessment Act 1936

1   After subsection 128F(5A)

Insert:

(5B) Subsection (5A) does not apply to a bond issued in Australia by a central borrowing authority of a State or Territory. In this subsection bond includes debenture stock and notes.

Note: The heading to subsection (5A) is altered by omitting "No exemption for central" and substituting "Central".