Tax Law Improvement Act 1997 (121 of 1997)

Schedule 4   Deductions

Part 3   Consequential amendment of the Income Tax Assessment Act 1936

66   Before subsection 51(4)

Insert:

(4A) Subsection (4) does not apply to the 1997-98 year of income or a later year of income.

Note: Section 26-5 (Penalties) of the Income Tax Assessment Act 1997 denies a deduction for penalties.