Document ID: chunk:federal_register_of_legislation:C2014A00034:clause:1_12
Version: federal_register_of_legislation:C2014A00034
Segment Type: clause
Provision Reference: sch 1 cl 12
Character Range: 5358–6135

12  At the end of Subdivision 393‑A
Add:

393‑30  Unclaimed moneys
 (1) Subsection (2) applies if:
 (a) a farm management deposit of an owner was unclaimed moneys for the purposes of section 69 of the Banking Act 1959; and
 (b) the unclaimed moneys were paid to the Commonwealth under that section; and
 (c) the unclaimed moneys were repaid as a result of subsection 69(7) of that Act.
 (2) For the purpose of subsection 393‑10(1) of the Income Tax Assessment Act, treat the repaid unclaimed moneys as a repayment of the deposit of the owner.
 (3) To avoid doubt, the payment of unclaimed moneys to the Commonwealth under section 69 of the Banking Act 1959 is not a repayment of the deposit of the owner for the purposes of Division 393 of the Income Tax Assessment Act 1997.