Clean Energy Legislation (Carbon Tax Repeal) Act 2014 (83 of 2014)

Schedule 1   Repeal of the carbon tax

Part 3   Application and transitional provisions

Division 3   Provisions relating to other Acts

336   Application - amendments of the Income Tax Assessment Act 1997

(1) The repeal of section 26-18 of the Income Tax Assessment Act 1997 by this Schedule does not apply to unit shortfall charge imposed on:

(a) a unit shortfall for the financial year beginning on 1 July 2012; or

(b) a unit shortfall for the financial year beginning on 1 July 2013.

(2) Despite the amendments of the Income Tax Assessment Act 1997 made by this Schedule (other than the amendment of section 12-5 or the repeal of section 26-18), that Act continues to apply, in relation to carbon units issued before the designated carbon unit day, as if those amendments had not been made.