Loans (Taxation Exemption) Act 1978
1Loans (Taxation Exemption) Act 1978
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Loans (Taxation Exemption) Act 1978
No. 160 of 1978
An Act to provide for the exemption from taxation of certain documents and payments relating to certain overseas borrowings by or on behalf of the Commonwealth
Contents
4 Exemption from taxation of certain documents and payments
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Loans (Taxation Exemption) Act 1978
No. 160 of 1978
An Act to provide for the exemption from taxation of certain documents and payments relating to certain overseas borrowings by or on behalf of the Commonwealth
[Assented to 28 Nov 1978]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Loans (Taxation Exemption) Act 1978.
2 Commencement
This Act shall come into operation on the day on which it receives the Royal Assent.
3 Interpretation
(1) In this Act, unless the contrary intention appears:
law means a law of the Commonwealth or of a State or Territory;
prescribed borrowing means a borrowing of moneys outside Australia by or on behalf of the Commonwealth upon terms and conditions that do not provide for the issue of stock or securities of a kind to which section 6B of the Loans Securities Act 1919 applies.
(2) A reference in this Act to tax or duty shall be read as including a reference to withholding tax within the meaning of the Income Tax Assessment Act 1936 and to tax or duty in respect of:
(a) the estates of deceased persons;
(b) property derived from deceased persons; and
(c) gifts or other dispositions of property.