{"id":"C2004A04290","name":"Income Tax (Deferred Interest Securities) (Tax File Number Withholding Tax) Act 1991","slug":"income-tax-deferred-interest-securities-tax-file-number-withholding-tax-act-1991","collection":"act","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"215 of 1991","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":7623,"registerId":"commonwealth-C2004A04290-current","compilationNumber":null,"startDate":"2026-03-30","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Income Tax (Deferred Interest Securities) (Tax File Number Withholding Tax) Act 1991","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\ntitle: Income Tax (Deferred Interest Securities) (Tax File Number Withholding Tax) Act 1991\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![Commonwealth Coat of Arms of Australia](image.001.png)\n\nIncome Tax (Deferred Interest Securities) (Tax File Number Withholding Tax) Act 1991\n\nNo. 215, 1991\n\nCompilation No. 3\n\nCompilation date:   19 June 2018\n\nIncludes amendments up to: Act No. 41, 2018\n\nRegistered:    20 June 2018\n\n \n\nAbout this compilation\n\nThis compilation\n\nThis is a compilation of the Income Tax (Deferred Interest Securities) (Tax File Number Withholding Tax) Act 1991 that shows the text of the law as amended and in force on 19 June 2018 (the compilation date).\n\nThe notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.\n\nUncommenced amendments\n\nThe effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law.\n\nApplication, saving and transitional provisions for provisions and amendments\n\nIf the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.\n\nEditorial changes\n\nFor more information about any editorial changes made in this compilation, see the endnotes.\n\nModifications\n\nIf the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.\n\nSelf‑repealing provisions\n\nIf a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.\n\n \n\n \n\n \n\nContents\n\n1 Short title\n\n2 Commencement\n\n3 Act to bind Crown\n\n4 Imposition of tax\n\nEndnotes\n\nEndnote 1—About the endnotes\n\nEndnote 2—Abbreviation key\n\nEndnote 3—Legislation history\n\nEndnote 4—Amendment history\n\n \n\nAn Act to impose a tax on the non‑quotation of tax file numbers in respect of certain deferred interest securities\n\n1  Short title\n\n  This Act may be cited as the Income Tax (Deferred Interest Securities) (Tax File Number Withholding Tax) Act 1991.\n\n2  Commencement\n\n  This Act commences, or is taken to have commenced, as the case requires, on the commencement of section 221YHZR of the Income Tax Assessment Act 1936.\n\n3  Act to bind Crown\n\n  This Act binds the Crown in the right of each of the States, of the Australian Capital Territory and of the Northern Territory.\n\n4  Imposition of tax\n\n  Tax payable in accordance with section 14‑55 in Schedule 1 to the Taxation Administration Act 1953 is imposed.\n\nEndnotes\n\nEndnote 1—About the endnotes\n\nThe endnotes provide information about this compilation and the compiled law.\n\nThe following endnotes are included in every compilation:\n\nEndnote 1—About the endnotes\n\nEndnote 2—Abbreviation key\n\nEndnote 3—Legislation history\n\nEndnote 4—Amendment history\n\nAbbreviation key—Endnote 2\n\nThe abbreviation key sets out abbreviations that may be used in the endnotes.\n\nLegislation history and amendment history—Endnotes 3 and 4\n\nAmending laws are annotated in the legislation history and amendment history.\n\nThe legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.\n\nThe amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.\n\nEditorial changes\n\nThe Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.\n\nIf the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.\n\nMisdescribed amendments\n\nA misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation “(md)” added to the details of the amendment included in the amendment history.\n\nIf a misdescribed amendment cannot be given effect as intended, the abbreviation “(md not incorp)” is added to the details of the amendment included in the amendment history.\n\n \n\nEndnote 2—Abbreviation key\n\n \n\n| ad = added or inserted | o = order(s) |\n| --- | --- |\n| am = amended | Ord = Ordinance |\n| amdt = amendment | orig = original |\n| c = clause(s) | par = paragraph(s)/subparagraph(s) |\n| C[x] = Compilation No. x | /sub‑subparagraph(s) |\n| Ch = Chapter(s) | pres = present |\n| def = definition(s) | prev = previous |\n| Dict = Dictionary | (prev…) = previously |\n| disallowed = disallowed by Parliament | Pt = Part(s) |\n| Div = Division(s) | r = regulation(s)/rule(s) |\n| ed = editorial change | reloc = relocated |\n| exp = expires/expired or ceases/ceased to have | renum = renumbered |\n| effect | rep = repealed |\n| F = Federal Register of Legislation | rs = repealed and substituted |\n| gaz = gazette | s = section(s)/subsection(s) |\n| LA = Legislation Act 2003 | Sch = Schedule(s) |\n| LIA = Legislative Instruments Act 2003 | Sdiv = Subdivision(s) |\n| (md) = misdescribed amendment can be given | SLI = Select Legislative Instrument |\n| effect | SR = Statutory Rules |\n| (md not incorp) = misdescribed amendment | Sub‑Ch = Sub‑Chapter(s) |\n| cannot be given effect | SubPt = Subpart(s) |\n| mod = modified/modification | underlining = whole or part not |\n| No. = Number(s) | commenced or to be commenced |\n\n\n \n\nEndnote 3—Legislation history\n\n \n\n| Act | Number and year | Assent | Commencement | Application, saving and transitional provisions |\n| --- | --- | --- | --- | --- |\n| Income Tax (Deferred Interest Securities) (Tax File Number Withholding Tax) Act 1991 | 215, 1991 | 24 Dec 1991 | 24 Dec 1991 (s 2) |  |\n| Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006 | 101, 2006 | 14 Sept 2006 | Sch 2 (item 779) and Sch 6 (items 1, 6–11): 14 Sept 2006 (s 2(1) items 2, 4) | Sch 6 (items 1, 6–11) |\n| Tax Laws Amendment (2008 Measures No. 4) Act 2008 | 97, 2008 | 3 Oct 2008 | Sch 3 (item 174): 3 Oct 2008 (s 2(1) item 5) | — |\n| Statute Update (Autumn 2018) Act 2018 | 41, 2018 | 22 May 2018 | Sch 4 (item 8): 19 June 2018 (s 2(1) item 4) | — |\n\n\n \n\nEndnote 4—Amendment history\n\n \n\n| Provision affected | How affected |\n| --- | --- |\n| s 3..................... | am No 41, 2018 |\n| s 4..................... | am No 101, 2006; No 97, 2008 |\n\n \n","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The legislation remains tightly focused on its original purpose. The amendments shown in the endnotes are minor technical updates: (1) the 2006 amendment removed inoperative provisions, (2) the 2008 amendment updated the cross-reference to reflect renumbering in the Taxation Administration Act, and (3) the 2018 amendment updated the Crown binding provision to reflect modern drafting conventions. None of these expanded the scope beyond imposing TFN withholding tax on deferred interest securities."},"complexity_factors":["Extremely short: only 4 operative sections (Short title, Commencement, Crown binding, and Imposition)","Single substantive provision (section 4) that simply references another Act for all operative detail","No defined terms in the body of the Act — relies entirely on definitions in the Income Tax Assessment Act 1936 and Taxation Administration Act 1953","No conditional logic, exceptions, or nested provisions","No cross-references beyond the single reference to section 14-55 of the Taxation Administration Act 1953","Straightforward imposition structure: tax payable under X is imposed"],"plain_english_summary":"This Act creates a specific \"Tax File Number Withholding Tax\" on investors in deferred‑interest securities who fail to provide their TFN, and requires the issuing investment body to withhold tax (at the top marginal rate) from payments. It simply supplies the legislative basis for that withholding, affecting investors who don’t quote a TFN and the banks or funds that must collect it, ensuring tax can be collected despite missing TFNs."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"The compiled Act retains its core purpose but has been amended: s 3 (binding the Crown) was amended by Act No. 41, 2018, and s 4 (the imposition and cross‑reference to the Taxation Administration Act 1953) was amended by Acts No. 101, 2006 and No. 97, 2008 (endnote 4). These amendments alter coverage and cross‑references rather than setting out new substantive tax rules within this Act itself; substantive mechanics remain located in the TAA cross‑reference (s 4)."},"complexity_factors":["Very short statute with minimal standalone detail — substantive computation, collection and liability rules are in another law (Taxation Administration Act 1953, Sch 1 s 14‑55) (s 4).","Operative commencement is linked to a provision of the Income Tax Assessment Act 1936 (s 2 referencing s 221YHZR), requiring cross‑legislation reading to determine timing.","Binding the Crown (s 3) introduces a constitutional/coverage point that may affect application to State and Territory entities.","Amendment history (endnote 4) shows later changes to ss 3 and 4 (No 41, 2018; No 101, 2006; No 97, 2008), so understanding current effect requires tracing amendments.","Lack of in‑text definitions or procedural rules means practical effect depends on external instruments and administrative practice under the TAA."],"plain_english_summary":"This short Act imposes a withholding tax where tax file numbers (TFNs) are not quoted in relation to certain deferred interest securities. Section 4 imposes the tax and directs that it be paid in accordance with section 14‑55 of Schedule 1 to the Taxation Administration Act 1953. The Act binds the Crown (s 3) and commences with section 221YHZR of the Income Tax Assessment Act 1936 (s 2). It transfers the tax cost and reporting/collection mechanics to the TAA framework."}},"importantCases":[],"_links":{"self":"/api/acts/income-tax-deferred-interest-securities-tax-file-number-withholding-tax-act-1991","history":"/api/acts/income-tax-deferred-interest-securities-tax-file-number-withholding-tax-act-1991/history","analysis":"/api/acts/income-tax-deferred-interest-securities-tax-file-number-withholding-tax-act-1991/analysis","conflicts":"/api/acts/income-tax-deferred-interest-securities-tax-file-number-withholding-tax-act-1991/conflicts","importantCases":"/api/acts/income-tax-deferred-interest-securities-tax-file-number-withholding-tax-act-1991/important-cases","documents":"/api/acts/income-tax-deferred-interest-securities-tax-file-number-withholding-tax-act-1991/documents"}}