Commonwealth Numbered Acts

Income Tax Assessment Amendment Act (No. 3) 1982 No. 39 of 1982 - SECT 4

4. (1) Section 23 of the Principal Act is amended by inserting after paragraph
(jc) the following paragraph:

''(jd) income derived by the Australian Wool Testing Authority Limited, a
company incorporated in Victoria, being-

        (i)    income derived by the company from-

                (A)  the carrying out by the company of tests of sheep's wool,
                     lambs' wool, other fibres (whether natural or otherwise),
                     products made wholly or partly from sheep's wool or
                     lambs' wool or similar products made wholly or partly
                     from other fibres (whether natural or otherwise); or

                (B)  the issue of certificates, or the making of reports, by
                     the company in respect of tests of the kind referred to
                     in sub-sub-paragraph (A); or

        (ii)   income derived by the company from the investment of-

                (A)  income to which sub-paragraph (i) or this sub-paragraph
                     applies; or

                (B)  moneys that are to be used by the company in, or in
                     connection with, the carrying out by the company of the
                     activities referred to in sub-paragraph (i);''.

(2) The amendment made by sub-section (1) applies to income derived on or
after 1 July 1982.