INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART VI
-
COLLECTION AND RECOVERY OF TAX
Division 1A
-
Collection by instalments of tax on companies in respect of years of income before the year of income ending on 30 June 1990
SECTION 221AC
LIABILITY TO PAY INSTALMENTS OF TAX
221AC
For the purpose of securing generally the more expeditious collection of income tax payable by companies, a company is liable to pay during the relevant year of tax in accordance with this Division:
(a) 2 instalments of tax in respect of income of the year of income that commenced on 1 July 1976; and
(b) 3 instalments of tax in respect of income of the year of income that commences on 1 July 1977 and in respect of income of each subsequent year of income.
221AC(2)
View history note
Hide history noteFor the purpose of securing generally the more expeditious collection of income tax payable by companies, a company is liable to pay during the relevant year of tax in accordance with this Division:
(a) 2 instalments of tax in respect of income of the year of income that commenced on 1 July 1976; and
(b) 3 instalments of tax in respect of income of the year of income that commences on 1 July 1977 and in respect of income of each subsequent year of income.
(Omitted by No 108 of 1987)
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.