Document ID: chunk:federal_register_of_legislation:C2025A00016:clause:6_292fad
Version: federal_register_of_legislation:C2025A00016
Segment Type: clause
Provision Reference: sch 6 cl 292FAD
Character Range: 284473–285316

292FAD  Permitted credits to federal account for significant third party, associated entity or third party
  For the purposes of subparagraph 292FA(4)(b)(ii), the following amounts may be credited to a federal account kept for the purposes of this Part in relation to a person or entity covered by column 2 of item 5, 6 or 8 of the table in subsection 292FA(1):
 (a) interest earned on money standing to the credit of the account;
 (b) a loan;
 (c) a bequest;
 (d) an amount of a kind prescribed by the regulations for the purposes of this paragraph.
Note 1: The effect of paragraph (b) is that a commercial loan or a non‑commercial loan can be credited to a federal account.
Note 2: There are penalties for crediting an amount to a federal account if the amount is not required or permitted to be credited: see subsections 292FA(4) and (8).