Tax Law Improvement Act (No. 1) 1998 (46 of 1998)

7   Environment (new Division 400)

3   Consequential amendment of the Income Tax Assessment Act 1936

15   Before subsection 82BK(1)

Insert:

(1A) This section does not allow a deduction for the 1998-99 year of income or a later year of income.

Note: Subdivision 400-B of the Income Tax Assessment Act 1997 allows deductions for the 1998-99 year of income and later years of income for allowable environment protection expenditure.