Taxation Laws Amendment Act (No. 1) 2003 (12 of 2003)
Schedule 1 Interest withholding tax exemptions
Income Tax Assessment Act 1936
5 After subsection 128F(1A)
(a) some or all of the transfer price (within the meaning of section 128AA) of a debenture is taken under that section to be income that consists of interest; and
(b) the issue of the debenture satisfies the public offer test set out in subsection (3) or (4);
this section applies to the interest.
Note: Subsection (6) does not apply to the interest because that subsection deals only with interest paid on a debenture by the issuing company.