Tax Laws Amendment (2004 Measures No. 1) Act 2004 (95 of 2004)

Schedule 5   Net input tax credits and capital gains tax

Income Tax Assessment Act 1997

1   At the end of section 17-10

Add:

(2) However, the amount is not assessable income to the extent that, because it becomes a component of a *net input tax credit, a reduction is made under section 103-30 (reduction of cost base etc. by net input tax credits).


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).