INCOME TAX ASSESSMENT ACT 1936

SCHEDULE 2D - TAX EXEMPT ENTITIES THAT BECOME TAXABLE  

Division 57 - Tax exempt entities that become taxable  

Subdivision 57-F - Superannuation deductions  

SECTION 57-55   57-55   DEDUCTIONS REDUCED UNDER BOTH SECTIONS 57-40 AND 57-50  


If the amount of a deduction otherwise allowable to the transition taxpayer in respect of a contribution to a fund is required to be reduced under both sections 57-40 and 57-50 :


(a) if the reduction is of a different amount - the amount is reduced only under that section that requires the greater reduction; or


(b) if the reduction is of the same amount - the amount is reduced only under section 57-40 .


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.