Taxation Laws Amendment (Infrastructure Borrowings) Act 1994 (163 of 1994)

Part 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

24   Infrastructure borrowings to be non-assessable and non-deductible

Section 159GZZZZE of the Principal Act is amended:

(a) by inserting before subsection (1) the following subsection;
              

"(1A) This section applies to an infrastructure borrowing if a certificate is issued in relation to the borrowing, regardless of whether the certificate is later cancelled.";

(b) by omitting from subsections (1) and (2) "No amount" and substituting "Subject to section 159GZZZZG, no amount";
              

(c) by omitting from subsections (1), (2) and (3) "an infrastructure" (wherever occurring) and substituting "the infrastructure";
              

(d) by omitting from paragraph (3)(b) "any infrastructure" and substituting "the infrastructure".