Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT 1987No. 61, 1987 - SECT 19

19. Section 221YD of the Principal Act is amended -

   (a)  by inserting after sub-section (1) the following sub-section:

"(1A) The amount that, but for sub-section 221YBA (5), would be the
provisional tax payable by a taxpayer in respect of a year of income may be -

   (a)  notified on the notice of assessment of the income tax payable by the
        taxpayer in respect of the income of the year next preceding that year
        of income; or

   (b)  specified in a notice served by the Commissioner on the taxpayer.";
        and

   (b)  by inserting after sub-section (2) the following sub-section:

"(2A) An instalment of provisional tax is due and payable on the date
specified in the instalment notice as the date on which the instalment is due
and payable.".