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

8   Above-average special professional income (new Division 405)

2   Consequential amendment of the Income Tax Assessment Act 1936

5   Subsection 221YCAA(2) (paragraph (f) of the definition of adjusted preceding year's tax)

Repeal the paragraph, substitute:

(f) the taxpayer's taxable professional income for the preceding year of income had been increased by the provisional tax uplift factor for the current year of income, for the purposes of Division 405 of the Income Tax Assessment Act 1997 (which deals with above-average special professional income) except working out the taxpayer's average taxable professional income for the current year of income; and