46Gazettal of allocation day and allocation rate

46 Gazettal of allocation day and allocation rate

(1) As soon as practicable after an amount is credited to the Special Account under section 41 in respect of a quarter (the current quarter), the Commissioner of Taxation must, by notice published in the Gazette, declare that, for the purposes of this Part: (a) a specified day in the quarter next following the current quarter is the allocation day for the current quarter; and (b) a specified percentage is the allocation rate for the current quarter.

Note: To work out the allocation rate see section 47.

(2) The declaration has effect accordingly.