Taxation Laws Amendment Act (No. 2) 1995 (169 of 1995)

Schedule 3   VARIOUS AMENDMENTS OF THE INCOME TAX ASSESSMENT ACT 1936

Part 1   REFUNDS OF TFN AMOUNTS DEDUCTED IN ERROR

2   After subsection 221YHZC(1A)

Insert:

"(1AA) For the purposes of paragraph (1A)(f):

(a) the total of the amounts of all deductions made by the

investment body during the financial year from unattributed income in

respect of Part VA investments;

is to be reconciled with:

(b) the sum of:

(i) all amounts paid to the Commissioner under subsection

221YHZD(1A) in respect of those deductions; and

(ii) all amounts recorded under paragraph 221YHZD(1AB)(c) as being

offset against amounts to be paid to the Commissioner in respect of

those deductions.".