Income Tax Assessment Act 1936

S 26A repealed by No 143 of 2007 , s 3 and Sch 1 item 31, applicable in relation to income years, statutory accounting periods and notional accounting periods starting on or after the first 1 July that occurs after 24 September 2007. For savings provisions, see note under s 559A . S 26A formerly read:

SECTION 26A ASSESSABLE INCOME TO INCLUDE REPAYMENT OF TAX PAID ABROAD IN RESPECT OF DIVIDENDS  
26A(1)
Where -

(a) a dividend, or an amount of income attributable to a dividend, being a dividend paid on or after 19 October 1967, is or has been included in the assessable income of a taxpayer of the year of income or of any previous year of income;

(b) under a law of a country outside Australia, the company that paid the dividend deducted or was authorized to deduct income tax from the dividend, being income tax that neither the taxpayer nor any other person to whom the dividend or an amount of income attributable to the dividend was paid was personally liable to pay; and

(c) the taxpayer, in the year of income, in relation to the dividend or the amount of income attributable to the dividend, as the case may be -

(i) receives payment, or is allowed a credit, of an amount in respect of the income tax that the company deducted or was authorized to deduct; or

(ii) receives payment of, or becomes entitled to, an amount by reason that another person has received payment, or has been allowed a credit, of an amount in respect of the income tax that the company deducted or was authorized to deduct,

the assessable income of the taxpayer of the year of income shall include the amount of which he received payment or was allowed a credit or to which he became entitled, as the case may be, and that amount shall, for the purposes of this Act, be deemed to be a dividend.

26A(2)
This section applies to a non-share dividend in the same way as it applies to a dividend.

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History

S 26A(2) inserted by No 163 of 2001. For application provisions, see note under s 6AB(5B) .

S 26A amended by No 51 of 1973 and substituted by No 85 of 1967.