Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006 (101 of 2006)

Schedule 2 Consequential amendments relating to Schedule 1 repeals etc.

Repeal the paragraph, substitute:

(b) money due by the person to the debtor is taken to be money that comes to the person on behalf of the debtor, other than money that is:

(i) a payment of a royalty referred to in Subdivision 12-F in Schedule 1 to the Taxation Administration Act 1953; or

(ii) a payment to which section 12-325 of that Schedule applies (natural resource payments).