Income Tax (Consequential Amendments) Act 1997 (39 of 1997)

Schedule 1   Consequential amendments of the Income Tax Assessment Act 1936

73   Before subsection 79EB(1)

Insert:

(1A) This section does not apply to the 1997-98 year of income or a later year of income.

Note: To work out whether a PDF can deduct a tax loss in the 1997-98 year of income or a later year of income: see Subdivision 195-A of the Income Tax Assessment Act 1997.