Tax Law Improvement Act 1997 (121 of 1997)

Limits on application of section 26

Item

Paragraph of section 26

What the paragraph does not apply to

Provision of Income Tax Assessment Act 1997 that applies instead

1

26(eb)

Amount paid in the 1997-98 year of income or a later year of income (regardless of when the agreement, arrangement or understanding that was the basis for the payment was entered into)

section 15-3

2

26(ec)

Amount received in the 1997-98 year of income or a later year of income (regardless of when the leave accrued that the amount relates to)

section 15-5

3

26(f)

Amount received in the 1997-98 year of income or a later year of income

section 15-20

4

26(g)

Bounty or subsidy received in the 1997-98 year of income or a later year of income

section 15-10

5

26(h)

Amount received in the 1997-98 year of income or a later year of income

section 6-5

6

26(j)

Amount received in the 1997-98 year of income or a later year of income (regardless of when the loss occurred, or the loss or outgoing was incurred, that led to payment of the amount)

· section 15-30 (for loss of assessable income)

· Subdivision 20-A (for deductible loss or outgoing)

· section 70-115 (for loss of trading stock)

7

26(ja)

Amount received in the 1997-98 year of income or a later year of income

none

8

26(jb)

Amount of interest paid or applied in the 1997-98 year of income or a later year of income (regardless of when the interest became payable)

section 15-35

9

26(k)

Amount received in the 1997-98 year of income or a later year of income (regardless of when the loss occurred)

Subdivision 20-A

10

26(l)

Amount received in the 1997-98 year of income or a later year of income

section 15-25