INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VI - COLLECTION AND RECOVERY OF TAX  

Division 1A - Collection by instalments of tax on companies in respect of years of income before the year of income ending on 30 June 1990  

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Heading amended by No 20 of 1990.

SECTION 221AC   LIABILITY TO PAY INSTALMENTS OF TAX  

221AC    
For the purpose of securing generally the more expeditious collection of income tax payable by companies, a company is liable to pay during the relevant year of tax in accordance with this Division:

(a) 2 instalments of tax in respect of income of the year of income that commenced on 1 July 1976; and

(b) 3 instalments of tax in respect of income of the year of income that commences on 1 July 1977 and in respect of income of each subsequent year of income.

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S 221AC(1) amended by No 108 of 1987.

Former s 221AC(1) amended by No 57 of 1977, No 50 of 1976, No 80 of 1975 and substituted by No 26 of 1974.

221AC(2)    

(Omitted by No 108 of 1987)

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Former s 221AC(2) substituted by No 109 of 1986.

S 221AC inserted by No 165 of 1973.

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