Commonwealth Consolidated Acts

TAXATION LAWS AMENDMENT ACT (NO. 8) 2003 - SCHEDULE 3

Income Tax Assessment Act 1997

1   Paragraph 31 - 5(2)(e)

Repeal the paragraph, substitute:

  (e)   the covenant must have been entered into with:

  (i)   a fund, authority or institution that meets the requirements of section   31 - 10; or

  (ii)   the Commonwealth, a State, a Territory or a * local governing body; or

  (iii)   an authority of the Commonwealth, a State or a Territory.

2   Application

The amendment made by this Schedule applies to conservation covenants entered into on or after 1   July 2002.