Tax Law Improvement Act 1997 (121 of 1997)

Schedule 9   Gifts or contributions

Part 3   Consequential amendment of the Income Tax Assessment Act 1936

37   Subsection 78A(5)

Omit “agreement entered into in association with the making or receipt of the gift is such, that the value of the gift may be reduced in accordance with subsection 78(15)”, substitute “arrangement (within the meaning of that Act) entered into in association with the making or receipt of the gift is such, that the value of the gift may be reduced in accordance with section 30-220 of that Act”.