Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993 - SECT 172

172.(1) If, under the IP offset provision, no initial payment of tax is
payable by a company, then, sections 160APMA, 160APVBA, 160APVH, 160APYBA,
160APYC, 160AQCD and 160AQCN of the Assessment Act have, and are taken to have
had, effect as if the company had, on the day on which its paragraph
221AQ(1)(a) notice for the 1993-94 year of income was given to the
Commissioner, paid that initial payment of tax.

(2) If:

   (a)  the initial payment of tax payable by a company is reduced under the
        IP offset provision; and

   (b)  the company pays that reduced initial payment of tax; then, sections
        160APMA, 160APVBA, 160APVH, 160APYBA, 160APYC, 160AQCD and 160AQCN of
        the Assessment Act have, and are taken to have had, effect as if the
        amount of that payment had been increased by the amount of the
        reduction.