Deemed payment rule for dividends allocates payment and credit to the person whose income includes the dividend, including joint owners. The amendment expands the deemed payment rule to cover provisional assessments and replaces the provisos to direct that, where dividend income is included in another person's total income or is assessable to a person other than the shareholder, payment and credit are to be treated as made on behalf of, and given to, that other person; jointly owned securities or shares attract deemed payment and credit to each joint owner in the proportion their interest or dividend is assessable.
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Provisions expressly mentioned in the judgment/order text.
Deemed payment rule for dividends allocates payment and credit to the person whose income includes the dividend, including joint owners.
The amendment expands the deemed payment rule to cover provisional assessments and replaces the provisos to direct that, where dividend income is included in another person's total income or is assessable to a person other than the shareholder, payment and credit are to be treated as made on behalf of, and given to, that other person; jointly owned securities or shares attract deemed payment and credit to each joint owner in the proportion their interest or dividend is assessable.
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