A New Tax System (Pay As You Go) Act 1999 (178 of 1999)

Schedule 1   Pay as you go (PAYG) system of collecting income tax and other liabilities

Part 2   Consequential amendment of Acts

Income Tax Assessment Act 1936

39   Paragraph 221YHZQ(1)(b)

Repeal the paragraph, substitute:

(b) if the investment body had paid the deemed payment amount to the investor in money, and section 12-150 in Schedule 1 to the Taxation Administration Act 1953 had not been enacted, section 12-140 in that Schedule would have required the investment body to withhold an amount (the notional deduction ) from the payment; and