Taxation Laws Amendment Act (No. 3) 1997 (147 of 1997)

Schedule 6   Treatment of payments made under firearms surrender arrangements

Part 1   Amendment of the Income Tax Assessment Act 1936

4   After subsection 53I(2)

Insert:

(3) Also, the provisions mentioned in subsection (1) continue to apply for the operation of subsection 59(2AAA) for the 1997-98 year of income and for later years of income in which proceeds are derived as a result of firearms surrender arrangements.

Note: Firearms surrender arrangements has the meaning given by subsection 6(1).