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 19831 is 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.