INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
The aggregate of the deductions allowable under sections 78 , 78B and 82AAT shall not exceed the amount of income remaining after deducting from the assessable income all other allowable deductions except deductions allowable under section 79E , 79F , 80 , 80AAA or 80AA in respect of losses of previous years and any deduction allowable under Division 10 , Division 10AA or Division 16C .79C(2) [No operation from 1997/98 year onwards]
This section does not apply to the 1997-98 year of income or a later year of income.
Section 26-55 of the Income Tax Assessment Act 1997 sets out a limit on the total amount deductible under the following provisions of this Act:
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