Commonwealth Numbered Acts

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TAXATION LAWS (CLEARING AND SETTLEMENT FACILITY SUPPORT) ACT 2004 No. 56, 2004 - SECT 3

No tax consequences for payments under subsection 891A(1) of the Corporations Act 2001
(1)
No consequences arise, for the purposes of any Commonwealth laws relating to:

(a) tax for which liability is worked out under the income tax law; or
(b) GST;

in respect of a payment under subsection 891A(1) of the Corporations Act 2001 .

(2)
This section applies to any payment made after the day the Bill for this Act was introduced into the Parliament.

(3)
In this section:

"GST" has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 .

"income tax law" has the same meaning as in the Income Tax Assessment Act 1997 .



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