Tax Laws Amendment (2004 Measures No. 7) Act 2005 (41 of 2005)

Schedule 6   Consolidation

Part 4   Bad debts

Division 2   Consequential amendments

Income Tax Assessment Act 1936
8   At the end of subsection 266-120(1) in Schedule 2F

Add:

Note: Subdivision 709-D of the Income Tax Assessment Act 1997 modifies how this section operates in relation to a trust that used to be a member of a consolidated group and that writes off as bad a debt that used to be owed to a member of the group.


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