Tax Laws Amendment (2006 Measures No. 2) Act 2006 (58 of 2006)

Schedule 7   Technical corrections and improvements

Part 1   Amendments commencing on Royal Assent

Income Tax Assessment Act 1997

53   At the end of subsection 4-10(3)

Add:

Note: Division 63 explains what happens if your tax offsets exceed your basic income tax liability. How the excess is treated depends on the type of tax offset.