Tax Law Improvement Act 1997 (121 of 1997)
Schedule 4 Deductions
Part 3 Consequential amendment of the Income Tax Assessment Act 1936
137 Subsection 245-90(3) of Schedule 2C
Omit subsection 51(1) or section 63, substitute section 8-1 (about general deductions) or section 25-35 (about bad debts) of the Income Tax Assessment Act 1997.
Note: The heading to section 245-90 of Schedule 2C is altered by omitting deduction under subsection 51(1) or section 63 and substituting revenue deduction .