Document ID: chunk:federal_register_of_legislation:C2025C00185:section:588f
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 588F
Character Range: 1977480–1978505

588F  Certain taxation liabilities taken to be debts
 (1) For the purposes of this Part, a company's liability under a remittance provision to pay to the Commissioner of Taxation an amount equal to a deduction made by the company, after 1 July 1993, from a payment:
 (a) is taken to be a debt; and
 (b) is taken to have been incurred when the deduction was made.
 (2) In this section:
remittance provision means any of the following former provisions of the Income Tax Assessment Act 1936:
 (aa) section 220AAE, 220AAM or 220AAR;
 (a) section 221F (except subsection 221F(12)) or section 221G (except subsection 221G(4A));
 (b) subsection 221YHDC(2);
 (c) subsection 221YHZD(1) or (1A);
 (d) subsection 221YN(1);
or any of the provisions of Subdivision 16‑B in Schedule 1 to the Taxation Administration Act 1953.
 (3) This section is not intended to limit the generality of a reference in this Act to a debt or to incurring a debt.

Division 2—Voidable transactions

Subdivision A—Kinds of transactions that may be voidable