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INCOME TAX (RATES) AMENDMENT ACT 1980 No. 22 of 1980 - SECT 3
Interpretation
3. Section 3 of the Principal Act is amended by omitting sub-section (2) and
substituting the following sub-sections:
"(2) In this Act-
(a) a reference to net income or taxable income shall be read as a
reference to net income or taxable income, as the case may be, of the
year of income; and
(b) a reference to eligible taxable income for the purposes of Division
6AA of Part III of the Assessment Act shall be read as a reference to
eligible taxable income of the year of income for the purposes of that
Division.
"(3) A reference in this Act to the part to which Division 6AA of Part III of
the Assessment Act applies of the share of a beneficiary of the net income of
a trust estate shall, if that Division applies to the whole of such a share,
be read as a reference to the whole of that share.".
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