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INCOME TAX ASSESSMENT ACT 1936

PART VIII - MISCELLANEOUS  

SECTION 257  

257  PAYMENT OF TAX BY BANKER  

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Where any income of any person out of Australia is paid, or any proceeds of the disposal of an asset of any person out of Australia are paid, into the account of that person with a banker, the Commissioner may, by notice in writing to the banker, appoint the banker to be the person's agent in respect of the money so paid so long as the banker is indebted in respect thereof, and thereupon the banker shall accordingly be that person's agent.

Archived:

S 258 and 259 repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 item 166, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive . Act No 101 of 2006 , s 3 and Sch 6 item 15 extends the operation of subsection 265-45(2) in Schedule 1 to the Taxation Administration Act 1953 as a consequence of the repeal of section 259 by the above item. Item 15 reads:

15 Extended operation of subsection 265-45(2) in Schedule 1 to the Taxation Administration Act 1953  
15  In addition to the operation that it has apart from this item, subsection 265-45(2) in Schedule 1 to the Taxation Administration Act 1953 also applies to an amount of a liability (within the meaning of that subsection) that a person pays after the repeal of section 259 of the Income Tax Assessment Act 1936 by item 166 of Schedule 1 to this Act, if the liability arose before 1 July 2000.


 



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