CTHRepealedAct
Taxation (Deficit Reduction) Act (No. 1) 1993
33Sums received to be taxed
Start here
Get a plain-English read of 33
Turn the raw legal text into a practical explanation grounded in Taxation (Deficit Reduction) Act (No. 1) 1993.
33 Sums received to be taxed
Section 119 of the Principal Act is amended by adding at the end the following subsections: (2) For the purposes of subsection (1), if a credit union (within the meaning of section 23G) receives a payment of, or in the nature of, interest, the payment is taken to be for the rendering of services. (3) Subsection (2) does not limit the generality of subsection (1).