Tax Laws Amendment (Improvements to Self Assessment) Act (No. 2) 2005 (161 of 2005)

Schedule 1   Assessments

Part 4   Consequential amendments

Division 2   Nil assessment provisions

Income Tax Assessment Act 1936

38   Paragraphs 161AA(a) and (b)

Repeal the paragraphs, substitute:

(a) its taxable income or its net income for that year of income (or that it has no taxable income or net income for that year); and

(b) the amount of the tax payable on that taxable income or net income (or that no tax is payable); and