Taxation Laws Amendment Act (No. 3) 1993 (118 of 1993)

Part 4   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 9   Amendments relating to dividend imputation

Subdivision B   Amendments of the Principal Act

104   Penalty for failure to lodge return

Section 160ARZ of the Principal Act is amended by omitting all the words after "double" and substituting the following words and paragraphs:

"the sum of:

(a) the class A franking deficit tax (if any) payable by the company for the franking year; and

(b) the class B franking deficit tax (if any) payable by the company for the franking year.".