Paragraph 62

(1)

Section 680A (income treated as savings income or dividend income) is amended as follows.

(2)

In subsection (1)—

(a)

for “Subsections (2) and (3) apply” substitute “ Subsection (3) applies ”, and

(b)

omit “the savings rate or”.

(3)

Omit subsection (2).

(4)

In subsection (3), for the words from the beginning to “it” substitute “ The income ”.

(5)

In subsection (4)—

(a)

for “Subsections (5) and (6) apply” substitute “ Subsection (6) applies ”, and

(b)

omit “the savings rate or”.

(6)

Omit subsection (5).

(7)

In subsection (6), for the words from the beginning to “it” substitute “ The income ”.

(8)

Accordingly, in the heading omit “savings income or”.