Income Tax
(Companies, Corporate Unit Trusts and Superannuation Funds) Amendment Act 1984
No. 48 of 1984
An
Act to amend the Income Tax (Companies,
Corporate Unit Trusts and Superannuation Funds) Act 1983
[Assented to 25 June 1984]
BE IT ENACTED by the Queen, and the
Senate and the House of Representatives of the Commonwealth of Australia, as
follows:
Short
title, &c.
1. (1) This Act may be cited as
the Income Tax (Companies, Corporate Unit Trusts and Superannuation Funds) Amendment Act 1984.
(2) The Income Tax (Companies,
Corporate Unit Trusts and Superannuation Funds) Act 19831is
in this Act referred to as the Principal Act.
Commencement
2. This Act shall come
into operation on the day on which the Income
Tax Assessment Amendment Act (No. 3) 1984 comes into operation.
Interpretation
3. Section 3 of the
Principal Act is amended by inserting after the definition of “corporate unit
trust” in sub-section (1) the following definition:
“‘ineligible
approved deposit fund’ means an ineligible approved deposit fund within the
meaning of Division 9b of Part III
of the Assessment Act;”.
4. After section 8 of the
Principal Act the following section is inserted:
Rate
of tax payable by trustees of ineligible approved deposit funds
“8a.
The rate of tax payable by a trustee of an ineligible approved deposit fund in
respect of the taxable income of the fund in respect of which the trustee is
liable, in pursuance of section 121daa
of the Assessment Act, to be assessed and to pay tax is 46%.”.
NOTE
1. No. 106,
1983.