Tax Law Improvement Act 1997 (121 of 1997)

Schedule 8   Recoupment

Part 3   Consequential amendment of the Income Tax Assessment Act 1936

32   After subsection 63(2)

Insert:

(2A) Subsection (3) does not apply to an amount received in the 1997-98 year of income or in a later year of income if the amount is received as recoupment as defined by section 20-25 of the Income Tax Assessment Act 1997.

Note: Subdivision 20-A of the Income Tax Assessment Act 1997 applies instead.