Tax Law Improvement Act 1997 (121 of 1997)

Schedule 4   Deductions

Part 3   Consequential amendment of the Income Tax Assessment Act 1936

136   Subsection 245-25(5) of Schedule 2C

Omit “an exception contained in subsection 51(1)”, substitute “paragraphs 8-1(2)(a), (b) and (c) of the Income Tax Assessment Act 1997 (which prevent deductions for capital, private or domestic outgoings and for outgoings relating to exempt income)”.