Commonwealth Numbered Acts

Income Tax Assessment Amendment Act (No. 3) 1984 No. 47 of 1984 - SECT 38

38. Section 121B of the Principal Act is amended by inserting before the
definition of ''investment income'' the following definition:

'' 'ineligible approved deposit fund', in relation to a year of income, means
a fund-

   (a)  that is an approved deposit fund within the meaning of Subdivision AA
        of Division 2;

   (b)  that, on the last day of the year of income, was maintained by an
        approved trustee or approved trustees within the meaning of that
        Subdivision; and

   (c)  the income of which of the year of income is not exempt from income
        tax under section 23FA;''.