Commonwealth Numbered Acts

INCOME TAX ASSESSMENT AMENDMENT ACT (NO. 2) 1980 No. 57 of 1980 - SECT 6

6. (1) Section 50G of the Principal Act is amended-

   (a)  by omitting from sub-section (1) "or Division 10B (other than section
        124N)" and substituting ", Division 10B (other than section 124N) or
        Division 10C (other than section 124ZE)";

   (b)  by omitting from paragraph (w) of sub-section (2) "and" (last occur-
        occurring); and

   (c)  by adding at the end of sub-section (2) the following word and
        paragraph:



"; and (y) where a divisible deduction is allowable to the company in relation
to the year of income under Division 10C and the Commissioner considers that
the whole or a part of that divisible deduction may appropriately be related
to the relevant period, the whole of that divisible deduc- deduction or that
part of that divisible deduction, as the case may be, shall be deemed to be an
allowable deduction in respect of the relevant period.".

(2) The amendments made by sub-section (1) apply to assessments in respect of
income of the year of income in which 22 August 1979 occurred and in respect
of income of all subsequent years of income.