Taxation (Deficit Reduction) Act (No. 1) 1993 (57 of 1993)
Part 3 Amendment of the Income Tax Assessment Act 1936
Division 5 Amendments relating to credit unions
31 Exemption of interest received by credit unions
Section 23G of the Principal Act is amended by inserting after subsection (2) the following subsection:
(2A) Subsection (2) does not apply to a credit union in relation to a year of income if:
(a) the credit union is a recognised medium credit union in relation to the year of income; or
(b) the credit union is a recognised large credit union in relation to the year of income.
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