INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision A - General  

SECTION 80AB  

80AB   ORDER IN WHICH LOSS DEDUCTIONS ARE TO BE TAKEN INTO ACCOUNT  
Where deductions are allowable from the assessable income of a taxpayer of a year of income under any 2 or more of the following subsections:

(a) subsection 79E(3) ;

(b) subsection 79F(6) ;

(c) subsection 80(2) ;

(d) subsection 80AAA(7) ;

(e) subsection 80AA(4) ;

the deductions allowable under the subsections are to be taken into account in the following order:

(f) first, any deduction allowable under subsection 80AAA(7) ;

(g) second, any deduction allowable under subsection 80(2) ;

(h) third, any deduction allowable under subsection 79F(6) ;

(j) fourth, any deduction allowable under subsection 80AA(4) ;

(k) fifth, any deduction allowable under subsection 79E(3) .

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History

S 80AB substituted by No 57 of 1990.

Former s 80AB substituted by No 111 of 1981; amended by No 51 of 1973 and inserted by No 50 of 1966.

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