Commonwealth Numbered Acts

Income Tax Assessment Amendment Act (No. 3) 1984 No. 47 of 1984 - SECT 47

47. Section 123 of the Principal Act is amended-

(a) by inserting after the definition of ''petroleum'' in sub-section (1) the
following definition:

'' 'prescribed body' means-

   (a)  the Commonwealth, a State or the Administration of a Territory; or

   (b)  a public authority-

        (i)    that is constituted by or under a law of the Commonwealth, of a
               State or of a Territory; and

        (ii)   the income of which is wholly exempt from income tax;'';

   (b)  by omitting from paragraph (2) (b) ''or'' (last occurring);

   (c)  by inserting after paragraph (2) (c) the following word and paragraph:

''; or (ca) where the person is a prescribed body-on railway rolling-stock,'';
and

   (d)  by omitting paragraph (2) (d) and substituting the following
        paragraphs:

''(d) road vehicles or ships;

      (da)  except   as   mentioned   in   paragraph  (ca)-railway
rolling-stock; or''.