New Business Tax System (Simplified Tax System) Act 2001 (78 of 2001)

Schedule 3   Deducting prepayments

Income Tax Assessment Act 1936

6   Paragraph 82KZMA(2)(a)

Repeal the paragraph, substitute:

(a) must:

(i) carry on a business; or

(ii) be a taxpayer that is not an individual and that does not carry on a business; and