Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006 (101 of 2006)

Schedule 5   Inoperative Acts repealed on Royal Assent

Part 2   Consequential amendments

Income Tax Assessment Act 1997

124   Section 17-30

Repeal the section, substitute:

17-30 Special credits because of indirect tax transition

A special credit under section 19A of the A New Tax System (Goods and Services Tax Transition) Act 1999 is assessable income at the time it is attributed to a *tax period (for a credit under section 19A).