Income Tax Assessment Act 1997



Division 243 - Limited recourse debt  

Subdivision 243-D - Special provisions  

Operative provisions

SECTION 243-75   Application of Division where debt forgiveness rules also apply  


This section is to remove doubt about how this Division and Division 245 apply where both apply to the same debt.

Where both apply:

(a) this Division is to be applied first and is to be applied disregarding any operation of Division 245 ; and

(b) any amounts included in assessable income under this Division are taken into account under paragraph 245-85(1)(a) .


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