Income Tax Assessment Act 1997

Div 26 heading substituted by No 121 of 1997.

S 26-18 repealed by No 83 of 2014, s 3 and Sch 1 item 157, effective 1 July 2014. No 83 of 2014, s 3 and Sch 1 item 336 contains the following application provision:

336 Application - amendments of the Income Tax Assessment Act 1997  
(1)
The repeal of section 26-18 of the Income Tax Assessment Act 1997 by this Schedule does not apply to unit shortfall charge imposed on:

(a) a unit shortfall for the financial year beginning on 1 July 2012; or

(b) a unit shortfall for the financial year beginning on 1 July 2013.

(2)
Despite the amendments of the Income Tax Assessment Act 1997 made by this Schedule (other than the amendment of section 12-5 or the repeal of section 26-18 ), that Act continues to apply, in relation to carbon units issued before the designated carbon unit day, as if those amendments had not been made.

S 26-18 formerly read:

SECTION 26-18 Unit shortfall charge - clean energy  
26-18
You cannot deduct under this Act unit shortfall charge (within the meaning of the Clean Energy Act 2011 ).

S 26-18 inserted by No 132 of 2011, s 3 and Sch 2 item 8, effective 2 April 2012.