Taxation Laws Amendment Act (No. 4) 1994 (181 of 1994)

Schedule 1   AMENDMENTS OF THE INCOME TAX ASSESSMENT ACT 1936

Part 5   CREDIT UNIONS

89   Subsection 6H(5)

Omit the subsection, substitute:

"(5) For the purposes of this section, the notional taxable income of a credit union of a year of income is the amount that would be its taxable income of the year of income if:

(a) section 23G did not apply to income derived by it in the 1994-95 year of income or any later year of income; and

(b) Division 9 of Part III had not been enacted.".