Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 2) 1985No. 123, 1985 - SECT 23

23. After section 121CB of the Principal Act the following section is
inserted: Assessment of investment income of superannuation funds to which
section 23F or 23FB applies

"121CC. The trustee of a superannuation fund to which section 23F or 23FB
applies in relation to the year of income shall be assessed and is liable to
pay tax, at the rate declared by the Parliament for the purposes of this
section, upon the investment income of the fund of the year of income, to the
extent to which that income is, by virtue of section 121C, not exempt from
income tax.".