Income Tax Assessment Act 1936
PART III
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LIABILITY TO TAXATION
Division 11
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Interest paid by companies on bearer debentures
SECTION 127
CREDIT FOR TAX PAID BY COMPANY
127(1)
[Credit for tax paid by company]
(Omitted by No 95 of 1997)
Where the company pays tax under this Division on any interest, and that interest is included in the assessment of the person to whom it was paid or credited, the proportionate amount of tax paid by the company in respect of the interest shall be deducted from the total tax payable by that person.
127(2)(Omitted by No 95 of 1997)
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