Tax Laws Amendment (2011 Measures No. 7) Act 2011 (147 of 2011)

Schedule 5   Farm management deposits

Part 1   Early repayments in the event of applicable natural disasters

Income Tax Assessment Act 1997

6   Subsection 393-40(4)

Repeal the subsection, substitute:

Any later deposit not a farm management deposit

(4) If subsection (3) or (3A) applies to an *owner and a repayment, any later deposit that is made by, or on behalf of, the owner in the income year in which the repayment is made is not, and is taken never to have been, a farm management deposit .

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).