134-60
CurrentDivision 296 debt account to be kept for deferred Division 296 tax
Volume 2Schedule 1, Chapter 2, Part 2-10 to Chapter 4, Part 4-25 (sections 45-1 to 298-110)
Schedule 1Collection and recovery of income tax and other liabilities
Chapter 3Collection, recovery and administration of other taxes
Part 3-20Superannuation
Division 134Division 296 tax
Subdivision 134-BDivision 296 debt account
134-60 Division 296 debt account to be kept for deferred Division 296 tax
Accounts to be kept
(1)
The Commissioner is to keep a debt account (a Division 296 debt account) for *Division 296 tax for you for a *superannuation interest, if an amount of your *assessed Division 296 tax is *deferred to a Division 296 debt account for the superannuation interest.
Account to be debited for Division 296 tax
(2)
The Commissioner must debit the *Division 296 debt account for the amount of *assessed Division 296 tax that is *deferred to a Division 296 debt account for the *superannuation interest.
This Act’s bill:Second reading speech
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