Tax Law Improvement Act 1997 (121 of 1997)

Schedule 4   Deductions

Part 3   Consequential amendment of the Income Tax Assessment Act 1936

69   Before subsection 51AB(1)

Insert:

(1A) This section does not apply to the 1997-98 year of income or a later year of income.

Note 1: Section 26-45 (Club expenses) of the Income Tax Assessment Act 1997 deals with the deductibility of club expenses.

Note 2: Section 26-50 (Expenses for a leisure facility or boat) of the Income Tax Assessment Act 1997 deals with the deductibility of leisure facility and boat expenses.