Commonwealth Numbered Acts

Income Tax (Companies, Corporate Unit Trusts and Superannuation Funds) Act 1982 No. 102 of 1982 - SECT 10

10. (1) The tax imposed by this Act is levied, and shall be paid, for the
financial year that commenced on 1 July 1982.

(2) Until the Parliament otherwise provides, and subject to sub-section (3),
the tax imposed by this Act is also levied, and shall be paid, for the
financial year commencing on 1 July 1983.

(3) For the purposes of the application of this Act in accordance with
sub-section (2), this Act shall be read as if-

(a) the definition of ''friendly society dispensary'' in sub-section 3 (1)
were omitted;

   (b)  sub-section 6 (2) were omitted and the following sub-section were
        substituted:

''(2) The rate of tax in respect of the taxable income of a company, other
than a private company, is 46%.'';

   (c)  sub-section 6 (4) were omitted;

(d) there were omitted from sub-section 6 (5) ''other than a friendly
society dispensary''; and

   (e)  sub-section 6 (6) were omitted.