Income Tax Assessment Act 1936
View history note
Hide history noteIf family trust distribution tax (the secondary tax ) becomes payable under section 271-60 or 271-65 on an amount of family trust distribution tax (the primary tax ) that the Commissioner determined was unlikely to be paid:
(a) if any of the primary tax is later paid - any liability to the secondary tax existing at the time of the payment is reduced by the amount of the payment; and
(b) if any of the secondary tax is later paid - any liability to the primary tax existing at the time of the payment is reduced by the amount of the payment.
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