Income Tax (Consequential Amendments) Act 1997 (39 of 1997)

Schedule 1   Consequential amendments of the Income Tax Assessment Act 1936

147   Subsection 122DG(7)

Add at the end:

Note: Subsection (2A) limits deductions allowable under subsection (2) to years of income before the 1997-98 year of income. Section 330-45 of the Income Tax (Transitional Provisions) Act 1997 converts the whole or a part of a deduction disallowed in the 1996-97 year of income into an amount a taxpayer can deduct in the 1997-98 year of income.