Tax Laws Amendment (2007 Measures No. 3) Act 2007 (79 of 2007)
Schedule 7 Interest withholding tax
Income Tax Assessment Act 1936
16 Application
(1) The amendments made by this Schedule apply to interest paid in respect of debt interests issued on or after 7 December 2006 (the start day ).
(2) For the purposes of subitem (1), a debt interest is treated as being issued before the start day if it is issued under or results from a written agreement entered into on or after 21 March 2005 and before the start day.
(3) However, subitem (2) does not apply to the extent that the agreement referred to in that subitem is altered after the start day to extend its term.
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