Tax Laws Amendment (2005 Measures No. 5) Act 2005 (162 of 2005)

Schedule 3   Consolidation

Part 1   Bad debts

Division 3   Consequential amendments

Income Tax Assessment Act 1997
17   Subsection 25-35(5) (table item 6)

Repeal the item, substitute:


An entity that used to be a member of a consolidated group or MEC group can deduct a bad debt that used to be owed to a member of the group only if certain conditions are met

Subdivisions 709-D and 719-I