Taxation (Unpaid Company Tax—Promoters) Act 1982

No. 121 of 1982

An Act to impose a tax in respect of certain unpaid company tax

[Assented to 13 December 1982]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title

1. This Act may be cited as the Taxation (Unpaid Company Tax—Promoters) Act 1982.

Commencement

2. This Act shall come into operation on the day on which the Taxation (Unpaid Company Tax) Assessment Act 1982 comes into operation.

Incorporation

3. The Taxation (Unpaid Company Tax) Assessment Act 1982 is incorporated and shall be read as one with this Act.

Imposition of tax

4. Where at any time a promoters taxable amount exists under the Taxation (Unpaid Company Tax) Assessment Act 1982, tax is imposed, and shall be levied and paid, on that promoters taxable amount.

Amount of tax

5. The amount of the tax imposed by this Act in respect of a promoters taxable amount is an amount equal to the promoters taxable amount.