Tax Law Improvement Act 1997 (121 of 1997)
Schedule 8 Recoupment
Part 3 Consequential amendment of the Income Tax Assessment Act 1936
35 After subsection 70A(4)
Insert:
(4A) Paragraph (5)(a) does not apply to an amount by which a taxpayer is recouped in the 1997-98 or a later year of income (including an amount by which the taxpayer is taken because of paragraph (5)(b) to be recouped in that year of income).
Note: Subdivision 20-A of the Income Tax Assessment Act 1997 applies instead.
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