Document ID: chunk:federal_register_of_legislation:C2024C00504:section:3:p3
Version: federal_register_of_legislation:C2024C00504
Segment Type: section
Provision Reference: s 3 (pt 3/4)
Character Range: 8609–11136

disability.
Wine Equalisation Tax Act means the A New Tax System (Wine Equalisation Tax) Act 1999.
wine tax has the meaning given by section 33‑1 of the Wine Equalisation Tax Act.
wine tax law has the meaning given by section 33‑1 of the Wine Equalisation Tax Act.
 (2) In this Act:
 (a) a reference to income tax payable by a company or trustee, in relation to the intention of a person in entering into, or the knowledge or belief of a person concerning, an arrangement or transaction, shall be read as a reference to some or all of the income tax due and payable by the company or trustee at the time when the arrangement or transaction is entered into;
 (b) a reference to future income tax payable by a company or trustee, in relation to the intention of a person in entering into, or the knowledge or belief of a person concerning, an arrangement or transaction, shall be read as a reference to some or all of:
 (i) the income tax (if any) that will become payable by the company or trustee, after the arrangement or transaction is entered into, in relation to transactions entered into, operations carried out and acts done by the company or trustee before the arrangement or transaction is entered into; and
 (ii) the income tax that may reasonably be expected by that person to become payable by the company or trustee after the arrangement or transaction is entered into:
 (A) in relation to likely transactions, operations and acts of the company or trustee; or
 (B) by reason of the Commissioner altering the sale value of goods in pursuance of a power to do so conferred on him or her by the Income Tax Assessment Act; and
 (c) a reference to income tax moneys, in relation to a company or trustee, shall be read as a reference to:
 (i) the income tax payable by the company or trustee;
 (ii) further income tax payable by the company or trustee under the Income Tax Assessment Act;
 (iii) additional tax payable by the company or trustee under the Income Tax Assessment Act;
 (iv) costs awarded by a court against the company or trustee in a proceeding by the Crown for the recovery of a penalty under the Income Tax Assessment Act; and
 (v) costs awarded by a court against the company or trustee in a proceeding for the recovery of income tax, further income tax referred to in subparagraph (ii) or additional tax referred to in subparagraph (iii) payable by the company or trustee.
 (3) In this Act, a reference to securing the inability or likely inability of a company or trustee to pay income tax payable by