Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT 1984No. 123, 1984 - SECT 18

18. Section 84 of the Principal Act is amended-

   (a)  by inserting after sub-section (7) the following sub-sections:

"(7A) Where-

   (a)  money has been paid by a person to a building society in respect of
        the issue of shares in the capital of the society (not being shares
        listed for quotation on a Stock Exchange); and

   (b)  the money has not been repaid,
the money shall, for the purposes of this section, be taken-

   (c)  in a case where the money is repayable on demand-to be due by the
        building society to the person; or

   (d)  in any other case-to be money that may become due by the building
        society to the person.

"(7B) Where, but for this sub-section, money is not due, or repayable on
demand, to a person unless a condition is fulfilled, the money shall be taken,
for the purposes of this section, to be due or repayable on demand, as the
case may be, to the person notwithstanding that the condition has not been
fulfilled.";

   (b)  by inserting before the definition of "debt" in sub-section (8) the
        following definition:

" 'building society' means a society registered or incorporated as a building
society, co-operative housing society or other similar society under the law
in force in a State;"; and

   (c)  by omitting from sub-section (8) the definition of "duty or tax" and
        substituting the following definition:

" 'duty or tax' includes-

   (a)  an additional amount payable under section 70 or 81;

   (b)  a judgment debt or costs in respect of-

        (i)    duty or tax; or

        (ii)   an additional amount payable under section 70 or 81;

   (c)  any fine or costs imposed by a court in respect of-

        (i)    an offence against this Act or the regulations; or

        (ii)   any other taxation offence within the meaning of Part III of
               the Taxation Administration Act 1953 that relates to this Act
               or the regulations; and

   (d)  any amount ordered by a court, upon the conviction of a person for an
        offence of a kind referred to in paragraph (c), to be paid by the
        person to the Commissioner;"; and

   (d)  by omitting ", the Commonwealth, a State," (first occurring) from the
        definition of "person indebted" in sub-section (8) and substituting ",
        a company, a partnership, the Commonwealth or a State".