INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997
If a farm management deposit was made with an FMD provider as a result of a request under section 25B of the Loan (Income Equalization Deposits) Act 1976 , as in force on 21 February 2005, then:
(a) subsections 393-40(1) to (4) of the Income Tax Assessment Act 1997 apply as if the day the deposit was made was the day on which the deposit was originally made under the Loan (Income Equalization Deposits) Act 1976 ; and
(b) subsection 393-40(6) does not apply to the deposit.
The Loan (Income Equalization Deposits) Act 1976 was repealed on 22 February 2005.
Div 400 and 405 repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 items 283 and 284, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive .