(1) Subsection (2) applies if:
(a) a farm management deposit of an owner was unclaimed moneys for the purposes of section 69 of the Banking Act 1959 ; and
(b) the unclaimed moneys were paid to the Commonwealth under that section; and
(c) the unclaimed moneys were repaid as a result of subsection 69(7) of that Act.
(2) For the purpose of subsection 393-10(1) of the Income Tax Assessment Act , treat the repaid unclaimed moneys as a repayment of the deposit of the owner.
(3) To avoid doubt, the payment of unclaimed moneys to the Commonwealth under section 69 of the Banking Act 1959 is not a repayment of the deposit of the owner for the purposes of Division 393 of the Income Tax Assessment Act 1997 .
Table of sections
393-40 The day the deposit was made for deposits made as a result of section 25B of the Loan (Income Equalization Deposits) Act 1976