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)

View history reference

(Omitted by No 95 of 1997)

View history note

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