Commonwealth act

Taxation (Interest on Non-resident Trust Distributions) Act 1990

In ForceCTH

Jurisdiction

Commonwealth

Act Number

124 of 1990

Collection

act

Plain English Summary

3/10 complexity

This Act imposes an interest charge in respect of distributions from certain trust estates by making payable the interest described in section 102AAM of the Income Tax Assessment Act 1936 (s3). It takes effect on the day of Royal Assent (s2). Mechanically, persons or entities required to pay interest under s102AAM will owe that interest as imposed by this Act; the Act itself does not define rates or scope but refers to s102AAM for calculation and coverage.

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Current sections

Direct links to the current provisions in Taxation (Interest on Non-resident Trust Distributions) Act 1990.

Taxation (Interest on Non-resident Trust Distributions) Act 1990

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Taxation (Interest on Non-resident Trust Distributions) Act 1990

No. 124 of 1990

An Act to impose an interest charge in respect of distributions from certain trust estates

Contents

1 Short title

2 Commencement

3 Imposition of interest charge

View image in the official source

Taxation (Interest on Non-resident Trust Distributions) Act 1990

No. 124 of 1990

An Act to impose an interest charge in respect of distributions from certain trust estates

[Assented to 28 December 1990]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Taxation (Interest on Non-resident Trust Distributions) Act 1990.

2 Commencement

This Act commences on the day on which it receives the Royal Assent.

3 Imposition of interest charge

Interest that is payable in accordance with section 102AAM of the Income Tax Assessment Act 1936 is imposed by this Act.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

meta-content-style-type: text/css meta-content-type: application/xhtml+xml; charset=utf-8

?xml version="1.0" encoding="utf-8" standalone="no"?>

Taxation (Interest on Non-resident Trust Distributions) Act 1990

No. 124 of 1990

An Act to impose an interest charge in respect of distributions from certain trust estates

Contents

1 Short title

2 Commencement

3 Imposition of interest charge

Taxation (Interest on Non-resident Trust Distributions) Act 1990

No. 124 of 1990

An Act to impose an interest charge in respect of distributions from certain trust estates

[Assented to 28 December 1990]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Taxation (Interest on Non-resident Trust Distributions) Act 1990.

2 Commencement

This Act commences on the day on which it receives the Royal Assent.

3 Imposition of interest charge

Interest that is payable in accordance with section 102AAM of the Income Tax Assessment Act 1936 is imposed by this Act.

Read the source document