Tax Law Improvement Act (No. 1) 1998 (46 of 1998)

9   Consequential amendments relating to indexation

1   Amendment of the Income Tax (Transitional Provisions) Act 1997

1   Section 42-70

Repeal the section, substitute:

42-70 Adjustment: acquiring a car at a discount

Paragraph 42-70(1)(c) of the Income Tax Assessment Act 1997 has effect as if, in addition to referring to the car depreciation limit, it also referred to the motor vehicle depreciation limit under section 57AF of the Income Tax Assessment Act 1936.