Commonwealth Consolidated Acts

FAMILY TRUST DISTRIBUTION TAX (PRIMARY LIABILITY) ACT 1998 - SECT 5

  (1)   This section applies:

  (a)   in relation to tax payable under section   271 - 55 in Schedule   2F to the Income Tax Assessment Act 1936 --to notices mentioned in that section that are given by the Commissioner in a temporary budget repair levy year; or

  (b)   otherwise--to present entitlements conferred, or distributions made, in a temporary budget repair levy year.

  (2)   Increase the amount of the percentage mentioned in section   4 by 2 percentage points.

  (3)   In this section:

"temporary budget repair levy year" has the same meaning as in section   4 - 11 of the Income Tax (Transitional Provisions) Act 1997 .