INCOME TAX (DIVERTED INCOME) ACT 1981 

INCOME TAX (DIVERTED INCOME) ACT 1981 
- TABLE OF PROVISIONS

1.   Short title [see Note 1]    
2.   Commencement [see Note 1]    
3.   Interpretation    
4.   Incorporation    
5.   Imposition of tax    
6.   Rate of tax    

INCOME TAX (DIVERTED INCOME) ACT 1981

- LONG TITLE

An Act to impose tax on certain income derived under tax
avoidance schemes

INCOME TAX (DIVERTED INCOME) ACT 1981
- SECT 1   Short title [see Note 1] 

 
        This Act may be cited as the Income Tax (Diverted Income) Act 1981.

INCOME TAX (DIVERTED INCOME) ACT 1981
- SECT 2   Commencement [see Note 1] 

 
        This Act shall come into operation on the day on which it receives the Royal
Assent.

INCOME TAX (DIVERTED INCOME) ACT 1981
- SECT 3   Interpretation 

 
        In this Act, Assessment Act means the Income Tax Assessment
Act 1936.

INCOME TAX (DIVERTED INCOME) ACT 1981
- SECT 4   Incorporation 

 
        The Assessment Act is incorporated, and shall be read as one, with this Act.

INCOME TAX (DIVERTED INCOME) ACT 1981
- SECT 5   Imposition of tax 

 
        The tax known as income tax, to the extent that that tax is payable in
accordance with Division 9C of Part III of the Assessment Act, is imposed by
this Act in respect of the financial year that commenced on 1 July 1979 and in
respect of each subsequent financial year.

INCOME TAX (DIVERTED INCOME) ACT 1981
- SECT 6   Rate of tax 

 
        The rate of tax imposed by this Act in respect of a financial year is the
rate of tax payable, in respect of that financial year, by a trustee of a trust
estate in respect of the net income of the trust estate in respect of which the
trustee is liable, in pursuance of section 99A of the Assessment Act, to be
assessed to pay tax.

INCOME TAX (DIVERTED INCOME) ACT 1981

- NOTES

Compilation Information

[GRAPHIC]Income Tax (Diverted Income) Act 1981
Act No. 112 of 1981
This Act was prepared on 1 April 2004
Prepared by the Office of Legislative Drafting,Attorney-General's
Department, Canberra
  
  
  

INCOME TAX (DIVERTED INCOME) ACT 1981

- NOTES

INCOME TAX (DIVERTED INCOME) ACT 1981Notes to the Income Tax (Diverted Income) Act 1981

 

Note 1
Act No. 112, 1981; assented to and commenced 24 June 1981.