Superannuation Legislation Amendment (Simplification) Act 2007 (15 of 2007)

Schedule 1   Consequential amendments etc.

Part 2   Other consequential amendments etc.

A New Tax System (Medicare Levy Surcharge - Fringe Benefits) Act 1999

9   Subsection 9(2)

Repeal the subsection, substitute:

(2) However, if a person is entitled to a tax offset under subsection 301-20(2) of the Income Tax Assessment Act 1997 for a year of income, the person's taxable income for the year of income is the amount worked out under subsection (1), reduced by the amount mentioned in subsection 301-20(3) of that Act for the person for the year.


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).