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 ”.