Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006 (101 of 2006)

Schedule 2   Consequential amendments relating to Schedule 1 repeals etc.

Part 1   Amendments: general

Income Tax Assessment Act 1997

777   Subsection 995-1(1)

Insert:

TFN withholding tax means tax payable in accordance with section 14-55 in Schedule 1 to the Taxation Administration Act 1953.

Note: The tax is imposed by the Income Tax (Deferred Interest Securities) (Tax File Number Withholding Tax) Act 1991.