Tax Law Improvement Act 1997 (121 of 1997)

Schedule 8   Recoupment

Part 3   Consequential amendment of the Income Tax Assessment Act 1936

51   Before subsection 646(1)

Insert:

(1A) This section does not apply to an amount received in the 1997-98 year of income or a later year of income if the amount is received as recoupment as defined by section 20-25 of the Income Tax Assessment Act 1997.

Note: Subdivision 20-A of the Income Tax Assessment Act 1997 applies instead.