Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 2) 1994No. 82, 1994 - SECT 5

5. Section 136 of the Principal Act is amended:
(a) by omitting paragraph (a) of the definition of "benchmark interest rate"
in subsection (1) and substituting the following paragraph:

"(a) in relation to a year of tax, means the rate of interest, known as the
large bank housing lenders variable interest rate on loans for housing for
owner occupation, last published by the Reserve Bank of Australia before the
commencement of the year of tax; and";

   (b)  by omitting paragraph (a) of the definition of "statutory interest
        rate" in subsection (1) and substituting the following paragraph:

"(a) in relation to a year of tax, means the benchmark interest rate in
relation to the year of tax; or".