Tax Law Improvement Act 1997 (121 of 1997)

Schedule 4   Deductions

Part 3   Consequential amendment of the Income Tax Assessment Act 1936

113   At the end of section 71

Add:

(2) This section does not apply to a loss ascertained in the 1997-98 year of income or a later year of income.

Note: Section 25-45 (Loss by theft etc.) of the Income Tax Assessment Act 1997 deals with the deductibility of losses caused by theft.