Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT (BUDGET MEASURES) ACT 1995 No. 94 of 1995 - SCHEDULE 10

                              SCHEDULE 10              Section 3

AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936 1. Subsection 221YA(1)
(definition of provisional tax uplift factor): Omit the definition,
substitute:

"provisional tax uplift factor:

   (a)  in relation to the 1995-96 year of income-means 8%; and

   (b)  in relation to a later year of income-means, until the Parliament
        otherwise provides, 10%.". 2. Application The amendment made by this
        Schedule applies in relation to provisional tax (including
        instalments) payable for the 1995-96 year of income and for all later
        years of income.