Tax Law Improvement Act (No. 1) 1998 (46 of 1998)

3   Company bad debts

1   Amendment of the Income Tax (Transitional Provisions) Act 1997

2   After Subdivision 175-CB

Insert:

Subdivision 175-C - Tax benefits from unused bad debt deductions

Table of sections

175-40 Application of Subdivision 175-C of the Income Tax Assessment Act 1997

175-40 Application of Subdivision 175-C of the Income Tax Assessment Act 1997

Subdivision 175-C of the Income Tax Assessment Act 1997 (about companies obtaining tax benefits from unused bad debt deductions) applies to assessments for the 1998-1999 income year and later income years.