Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (NO. 6) 1999 NO. 54, 1999 - SCHEDULE 3--Technical

1 After subsection 75B(3C)

Insert:

(3D) Subsection (4) does not apply to an amount received in the 1997-98 year of income or a later year of income if the amount is received as recoupment as defined by section 20- 25 of the Income Tax Assessment Act 1997 .

Note: Subdivision 20-A of the Income Tax Assessment Act 1997 applies instead.

Omit "63 of this Act or section 8-1", substitute "8-1 or 25-35".

3 Before subsection 122T(1)

Insert:

(1A) This section does not apply to an amount received in the 1997-98 year of income or a later year of income if the amount is received as recoupment as defined by section 20- 25 of the Income Tax Assessment Act 1997 .

Note: Subdivision 20-A of the Income Tax Assessment Act 1997 applies instead.

Insert:

(1H) Subsections (2) and (3) do not apply to an amount received in the 1997-98 year of income or a later year of income if the amount is received as recoupment as defined by section 20- 25 of the Income Tax Assessment Act 1997 .

Note: Subdivision 20-A of the Income Tax Assessment Act 1997 applies instead.

Insert:

(3A) Subsections (4) and (5) do not apply to an amount received in the 1997-98 year of income or a later year of income if the amount is received as recoupment as defined by section 20- 25 of the Income Tax Assessment Act 1997 .

Note: Subdivision 20-A of the Income Tax Assessment Act 1997 applies instead.

Insert:

(1A) This section does not apply to an amount received in the 1997-98 year of income or a later year of income if the amount is received as recoupment as defined by section 20- 25 of the Income Tax Assessment Act 1997 .

Note: Subdivision 20-A of the Income Tax Assessment Act 1997 applies instead.

After "Part III", insert "of".

8 Paragraph 399A(2)(a)

Omit "63 of this Act or section 8-1", substitute "8-1 or 25-35".

9 Subsection 399A(5)

Omit "63 of this Act or section 8-1", substitute "8-1 or 25-35".

10 Subsection 413(3)

Omit "Division 10C or 10D of Part III", substitute "Division 43 of the Income Tax Assessment Act 1997 or Division 10C or 10D of Part III of this Act".

11 Application

The amendments made by this Schedule apply to assessments for the 1997-98 income year and later income years.