Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 2) 1991No. 100, 1991 - SECT 50

50. After section 160ABB of the Principal Act the following section is
inserted: Rebate for certain Cocos (Keeling) Islands income - 1991-92

"160ACE. (1) Where the amount of tax that would, apart from this section, be
payable by a taxpayer (not being a company other than a company in the
capacity of trustee) in respect of income of the 1991-92 year of income
exceeds the amount of tax that would be so payable by the taxpayer in respect
of income of that year of income if:

   (a)  section 24BB had not been enacted; and

   (b)  section 24BA had applied in relation to that year of income; the
        taxpayer is entitled, in the taxpayer's assessment in respect of
        income of that year of income, to a rebate of tax of an amount equal
        to 50% of the amount of the excess.

"(2) This section does not apply to an assessment under subsection 98 (3) or
(4).".