Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)
Schedule 5 Loss carry back
Part 1 Main amendments
Income Tax Assessment Act 1997
3 Subsection 995-1(1)
income tax liability , of an entity for an income year, is the amount assessed as being the amount of income tax that the entity owes (as mentioned in step 4 of the method statement in subsection 4-10(3)) for the financial year applicable to the entity under subsection 4-10(2).