INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VI - COLLECTION AND RECOVERY OF TAX

Division 3B - Collection of tax in respect of certain payments

Subdivision C - Collection of TFN withholding tax payable on the non-quotation of tax file numbers in respect of eligible deferred interest investments

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SECTION 221YHZZB OTHER LAWS DO NOT EXEMPT A PERSON FROM TFN WITHHOLDING TAX

221YHZZB(1) [Law passed before 24 December 1991]

A law, or a provision of a law, passed before the commencement of this subsection that purports to exempt a person from liability to pay TFN withholding tax or to pay taxes that include TFN withholding tax does not exempt that person from liability to pay TFN withholding tax.

221YHZZB(2) [Law passed after 24 December 1991]

A law, or a provision of a law, passed after the commencement of this subsection that purports to exempt a person from liability to pay taxes under the laws of the Commonwealth or to pay certain taxes under those laws that include TFN withholding tax, other than a law or a provision that expressly exempts a person from liability to pay TFN withholding tax, is not to be construed as exempting the person from liability to pay TFN withholding tax.

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