Taxation Laws Amendment Act (No. 4) 2003 (66 of 2003)
Schedule 3 Non-assessable non-exempt income
Income Tax Assessment Act 1936
12 Paragraph 23AI(1)(c)
Repeal the paragraph, substitute:
(c) if the payment is of a kind referred to in paragraph 365(1)(a) - the payment is not assessable income, and is not exempt income, to the extent of the debit;
Note: The heading to section 23AI is replaced by the heading " Amounts paid out of attributed income not assessable ".